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Premier Li stresses boosting market vitality

Updated: Jun 02,2020 10:12 PM

Premier Li Keqiang called for efforts to ensure six priorities and stability in six key areas and to complete the annual economic and social development goals set in the Government Work Report.

Accompanied by the Party secretary and acting governor of Shandong, Premier Li inspected the cities of Yantai and Qingdao in East China's Shandong province from June 1 to 2, shortly after the end of this year’s two sessions.

Premier Li is concerned about the operation of small and micro businesses. During his visit to a company producing drug quality inspection equipment, Premier Li asked whether they had received any policy support from the government.

He was told that the company has enjoyed not only cuts on taxes and social security fees, but also the subsidies for stabilizing employment and rent exemption and reduction. Premier Li inquired further about their problems, and urged related departments to deal with the issue of intellectual property mortgage loans, thus lowering the financing costs for enterprises.

At Blue Wisdom Valley, a digital innovation zone in Yantai, where banking employees were providing services for small and micro businesses, Premier Li inquired about whether the loan rates have been lowered, and whether they have other requirements on financing.

They responded that the financing cost has been lowered, while the credit line was relatively low. Premier Li said that the innovation and technology-oriented companies usually stress human resources capital rather than fixed assets, so more should be done to explore new ways to increase their credit and solve the financing problem of small and micro businesses.

This year, the number of university graduates surged to a new high, and it is hoped that enterprises can recruit more employees, especially university graduates, said Premier Li, adding that the government would offer more support to those enterprises.

He told the employees of banks to give favorable credit rates to enterprises going through difficulties, letting them win the future, which will in turn benefit the development of banks.

At an old community in Zhifu district, Premier Li heard reports on the renovation of old communities in Yantai, asked people what they hope to change the most, and stressed that residents' wishes must be respected.

The Premier said renovating old residential areas can not only provide better living conditions, but also drive up demand for home decor and appliances. Social capital should be engaged to accelerate the process, the Premier stressed.

Premier Li spoke with people in the community, wished everyone a happy life, and stressed that local governments must work to ensure basic living needs of vulnerable groups, such as people living on subsistence allowances.

Premier Li talked with a food vendor who was operating a stall outside his small shop. The vendor said that his stall managed to get through the epidemic thanks to a four-month rent exemption as well as the water and electricity rate reduction. Now, as long as traffic is not hampered, vendors are allowed to set up roadside booths, a policy welcomed by everyone, the vendor added.

Policies rolled out by the government have been a blessing for some businesses that saw their income fall by 30 to 40 percent in recent months, said several owners of surrounding booths.

Premier Li said if everyone in a country works hard, enterprises will survive and thrive, and the country will have a larger developing space.

At Haier Group, people in charge reported to the Premier on the progress in mass entrepreneurship and innovation and development of the industrial internet.

Premier Li saw multiple series of smart products from Haier’s R&D, and praised how they integrate orders with staff, set up platforms for everyone to be a maker, and gather intelligence from home and abroad for innovation. The Premier also encouraged them to be inclusive and creative.

The Premier required relevant departments to come up with reform measures to coordinate development of big enterprises with small-, medium- and micro-sized businesses, integrate development of all industries, promote industries of new forms and create more jobs.

The Premier fully acknowledged that Shandong has effectively conducted epidemic control while maintaining social and economic development, expressing his hope that the province could stabilize the economy and secure people’s livelihoods.

State Councilor Xiao Jie and He Lifeng, head of the National Development and Reform Commission, were also on the inspection tour.