China flag with china paper currency. Image: iStock
Bill financing has become an important financing channel for SMEs, as it is more flexible and affordable, helping to lower the financing costs of private and small companies. Image: iStock

The Politburo of the Communist Party of China convened on Thursday to discuss economic planning for the year ahead, prior to the kick-off of the Central Economic Work Conference, The Paper reported.

The meeting put forward for the first time that China should accelerate reform of the economic system and promote all-around opening up.

The meeting re-established the targets of stabilizing employment, finance, foreign trade and investment which were first proposed by the previous politburo meeting in July, and added one more target — “boosting market confidence.”

The meeting pointed out that it is necessary to stimulate the vitality of small enterprises, improve macro-control, promote steady growth, facilitate reform, upgrade the economic structure, prevent risks and keep economic growth at a reasonable range.