Improving growth support measures

Workers work on an assembly line at an automobile factory in Qingzhou, Shandong, last month. (WANG JILIN/FOR CHINA DAILY)

Issues identified during inspections ‘should be resolved quickly’

At the executive meeting of the State Council on Wednesday, Premier Li Keqiang heard a report on special inspections to ensure the stability of economic growth, the operation of market entities and employment. He urged greater efforts to remove barriers, improve support measures and ensure greater policy effectiveness.

The meeting took note of recent special inspections by task forces sent by the State Council to 12 provinces regarding the work to maintain steady growth, support market entities and ensure market stability. ‘use.

The inspections identified problems in some areas, such as insufficient and imprecise implementation of policies, a “one size fits all” approach to work, and the imposition of arbitrary charges and fines.

“Issues identified during inspections should be resolved quickly, with experience gained in the process to prevent similar occurrences. All localities should effectively coordinate the COVID-19 response with economic and social development, and bring activity back economy back to normal as soon as possible,” Li said.

The meeting noted the continued acute downward pressure facing the economy and the need to effectively coordinate the COVID-19 response with economic and social development, in order to achieve reasonable growth in the second quarter and ensure the stability of overall economic performance.

Localities are encouraged to quickly resolve issues identified during inspections.

The State Council will carry out inspections in provincial-level regions that were not covered by this series of special inspections during its annual responsibility inspections.

Political support will be intensified, with particular emphasis on maintaining the stability of the functioning of market entities and the wage bill and on maintaining job creation. All summer grain should be harvested from granaries, summer plowing should proceed smoothly, and the supply of coal for the power industry should be kept stable, in order to support price stability. In addition, efforts will be made to further streamline transport and logistics.

“To keep major economic indicators within an appropriate range this year, we need to stabilize grain production and farmers’ incomes to ensure price stability. We need to maintain the stable operation of market entities to ensure market stability. All of this requires concerted efforts from all sides,” Li said.

The meeting also decided on policy measures to ensure the stable performance of foreign trade and investment and advance opening up to a higher level.

Working mechanisms to stabilize foreign trade and investment and ensure smooth logistics at all levels should be fully utilized, so as to provide timely and coordinated solutions in the face of foreign trade and foreign-funded enterprises in the resumption of production. at full capacity and building projects.

A policy to process export tax refunds within three business days will be implemented on a time-limited basis for companies with a good export tax refund credit rating. The reduction or temporary exemption from port dues will be explored.

The catalog of manufacturing industries encouraged for foreign investment in the central and western regions will be expanded. The role of working groups serving foreign-invested enterprises will be exploited and the mechanism for regular exchanges with foreign-invested enterprises will be improved.

“Openness is China’s fundamental national policy. Stable foreign trade and investment are essential to overall economic performance and employment. China’s economy is now deeply integrated into the world. All measures aimed at to ensure the stability of foreign trade and investment should be implemented immediately.” without delay,” Li said.