The leadership of the Communist Party of China (CPC) deliberated on Monday about policies and measures to accelerate the development of the central region of China in the new era, as well as experimental provisions regarding accountability for failing to prevent or neutralize financial risks.

Xi Jinping, General Secretary of the CPC Central Committee, chaired a meeting of the Political Bureau of the CPC Central Committee.

The meeting called for efforts to make new significant breakthroughs in accelerating the development of the central region, which includes the provinces of Shanxi, Anhui, Jiangxi, Henan, Hubei, and Hunan.

Encompassing a tenth of the country's land and about a quarter of its population, the region is an important base in terms of grain production, energy and raw materials, manufacturing of modern equipment, and the country's high-tech industry, and also serves as a comprehensive transportation hub.

The meeting called for adhering to innovation-driven development and increasing original scientific and technological research to achieve breakthroughs.

Efforts should be made to develop new quality productive forces according to local conditions, accelerate the construction of a modernized industrial system, boost the development of the real economy sector and enhance its competitiveness, and coordinate efforts to promote the upgrading of traditional industries while fostering emerging and future industries.

The meeting highlighted efforts to develop a modernized transportation infrastructure system and facilitate the efficient, free, and smooth flow of production factors.

The meeting also called for efforts to boost ecological conservation and environmental protection, as well as green and low-carbon development. Continuous efforts will be made to seek integrated urban and rural development, promote rural revitalization across the board, and enhance the country's capacity to ensure the supply of grain, energy, and other resources.

The meeting noted that preventing and neutralizing financial risks is a major challenge that must be overcome to achieve high-quality development, as it concerns national security, overall development, and people's property safety.

In January, Xi emphasized the need to prevent and neutralize financial risks, particularly systematic risks, when addressing the opening of a study session at the Party School of the CPC Central Committee (National Academy of Governance).

The experimental provisions marked the country's latest move to strengthen comprehensive financial supervision to prevent and neutralize financial risks and promote high-quality development in the financial field.

The experimental provisions are aimed at promoting the complete and rigorous self-governance of the Party in the financial field, intensifying the centralized and unified leadership of the CPC Central Committee in financial work, and ensuring that authorities, financial institutions, sector authorities, and Party committees and local governments earnestly fulfill their functions.

The meeting emphasized that the experimental provisions must be strictly implemented to send a strong signal that any violator will be held accountable, so that financial supervision truly has "teeth and thorns" and is sharp.

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