The New Year address delivered by President Xi Jinping emphasized the need to ensure a happy life for the people, with more policies aimed at benefiting both the public and businesses expected in 2025, a political analyst said on Tuesday.
On the New Year's eve, Xi delivered his 2025 New Year message through China Media Group (CMG) and the Internet. In an interview with CMG later that night, Professor Hong Xianghua of the Party School of the Communist Party of China Central Committee (National Academy of Governance) elaborated on the extensive significance President Xi's message carries in ensuring a happy life for the people in the coming year.
"In his New Year address, President Xi said 'Of all the jobs in front of us, the most important is to ensure a happy life for our people,' [highlighting the need to] address issues -- big or small-- that affect the people' daily lives. In 2024, the government introduced a range of policies designed to benefit the public and support businesses. Similarly, in 2025, more favorable measures will be implemented, such as the private sector promotion law, increases in pension payments, and higher fiscal subsidies," Hong said.
The private sector promotion law is the country's first basic law specifically focused on the development of the private sector of the economy. A draft version was released in October 2024 for public input.
Moreover, to improve the people's well-being, the expert noted, the country's economy will put more emphasis on technological innovation and emerging industries to drive new growth.
"The economy will continue to prioritize technological innovation as a driver of new quality productive forces, giving a further boost to national economic development," he said.