Premier Li Keqiang stressed better carrying out economic and social development work during a video conference on the economic situation of some provinces and cities on April 23.
At the meeting chaired by Premier Li, who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, heads of the provinces of Jilin, Jiangsu, Henan, Guangdong and Sichuan, as well as Shanghai municipality reported local economic performance and their future plans.
Vice-Premier Han Zheng, also a member of the Standing Committee of the Political Bureau of the CPC Central Committee, attended the video conference.
Premier Li confirmed the hard-won achievements China has made in epidemic prevention and control, pointing out the economic and social order is resuming at a fast pace. However, the global pandemic is bringing complicated and severe challenges to the economy. Therefore, the country should be confident in its development and face the challenges with a scientific attitude, he said.
Premier Li called for solid efforts to ensure stable performance in employment, finance, foreign trade, foreign investment, domestic investment and market expectation. He also stressed safeguarding jobs, livelihood, market entities, food and energy security, the stability of industrial and supply chains and the smooth running of communities.
At the symposium, it was mentioned some enterprises are having difficulties in production resumption, especially small and micro ones. This has made stabilizing employment an arduous task.
Premier Li said the millions of market entities should be well preserved to support employment. Favorable policies such as tax exemption, financial support and cost reduction must be implemented and perfected on time. The whole nation should also make greater efforts to help enterprises, especially small and micro ones and privately or individually-owned businesses, to tide over difficulties. Employment priority must be given to vulnerable groups such as college students, migrant workers and ex-servicemen, he added.
Premier Li then asked in detail about work resumption in the service sector and construction of major projects. To continue the strategy of expanding domestic demand, a raft of measures should be taken to boost consumption, including online consumption. Local governments should leverage policies such as special local government bonds to expand effective investment. They should also raise social investment to speed up projects intended to improve weak areas, benefit people’s livelihoods and generate long-term momentum. Sound preparations should be made to start such projects as early as possible, he said.
New growth drivers thrived during the epidemic, demonstrating the resilience of China’s economy, those at the conference noted. Particular measures are necessary for handling the epidemic’s impact and promoting economic growth, but what is more important is to adhere to reform and opening-up and accelerate the transformation in economic development modes, Premier Li said.
To meet enterprises’ needs, the government should roll out more fresh and concrete moves in further reforms that streamline administration, delegate power, improve regulations, upgrade services and optimize the business environment. By unleashing market vitality, he said, advanced manufacturing and emerging industries can develop, support for mass entrepreneurship and innovation can be enhanced and stronger new growth drivers can be cultivated. Further opening-up can also stabilize industrial and supply chains amid deeper international cooperation.
For safeguarding basic livelihoods of the people, especially the vulnerable groups, Premier Li urged local governments to increase payment transfers from fiscal budget to grass-roots levels, increase support to the unemployed, provide necessary subsistence allowances and social aid and offer temporary price subsidies.
State Councilors Wang Yong, Wang Yi, Xiao Jie and Zhao Kezhi also participated.
