App | 中文 |


Govt policy moves from past week

Mo Jingxi
Updated: Jun 16,2020 07:08 AM    China Daily

New mechanism to direct funds to counties

China will set up a special transfer payment mechanism to ensure that fiscal funds directly benefit businesses and people, an executive meeting of the State Council decided on June 9.

The mechanism will see the central government increase transfer payments to local governments, and arrange for transfer payments from government-managed funds, according to a statement released after the meeting.

The mechanism will ensure that funds go straight to prefecture and county governments in a timely manner, it said.

The meeting was told that taxes and fees payable by enterprises will be cut by another 2.5 trillion yuan ($353 billion) this year, substantially easing the pressure on businesses, especially small and medium-sized ones.

But that will put local governments under financial strain, and, in response, the central government will provide 2 trillion yuan of fiscal funds to ensure the implementation of supportive measures at the primary level, the statement said.

The meeting decided that the funds should be used to support businesses and people hit hardest by the COVID-19 epidemic, and to strengthen public health facility and anti-epidemic efforts.

It also required local governments to give priority to poverty reduction efforts when arranging the distribution of central fiscal funds to ensure that absolute poverty is eliminated this year.

First national survey of disaster risks launched

The first national survey of natural disaster risks will better prepare the country for potential disasters, according to a notice published by the General Office of the State Council on June 8.

The survey, to be carried out from this year to 2022, is aimed at discovering hidden hazards across the country and getting a clear picture of the ability of key regions to respond to natural disasters so that governments at all levels can make informed disaster-control decisions, the notice said.

The survey will investigate and assess the factors that lead to major natural disasters and also assess the country's disaster-relief capabilities.

As the survey will cover a range of areas that involve many departments, the State Council has set up a temporary leading group to be responsible for it.

Government departments should strengthen coordination to ensure the implementation of the survey, the notice added.