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Premier stresses stable economic recovery, development

Updated: Nov 17,2020 09:49 PM

Efforts should be made to steadily recover China's economy and continuously achieve smooth development, through an in-depth analysis of the current economic situation and science-based leveraging of policies. Premier Li Keqiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks when chairing a symposium on Nov 16.

Experts and entrepreneurs present at the meeting expressed their views on the domestic economy and external environment, and offered their suggestions on follow-up work, including macro policies, support for innovation, and building of supply chains.

They lauded the role of the government's tax and fee cut policies in supporting the real economy, especially micro-, small- and medium-sized enterprises.

Given the special difficulties facing the economy this year, the achievements made so far are really hard won, the Premier said, citing stable economic fundamentals and employment.

The success, Premier Li said, came thanks to solid moves by all regions and all government departments in ensuring stability on six fronts and security in six areas as required by the CPC Central Committee and the State Council.

Those measures focused on market entities, especially micro-, small- and medium-sized enterprises, and self-employed individuals, with the introduction of the direct fund allocation mechanism to help businesses get through the difficult time, and meanwhile stimulate their vitality, the Premier said.

The macro policies rolled out have proven powerful, effective, timely and reasonable, and China's hundreds of millions of market entities have showed strong resilience, he added.

Against the still complex and severe landscape at home and abroad, the Premier called for getting fully prepared for challenges ahead with firm confidence.

He stressed following new development concepts, implementing regular and targeted epidemic prevention and control measures, pushing economic performance back into a reasonable range while maintaining an economic rebound to achieve high-quality development and fostering a new development pattern.

With large-scale supporting policies for enterprises in place, the government should enhance effectiveness and sustainability of the macro policies by analyzing the macroeconomic trends and domestic and external environment changes, listening to the voice of market entities and the people, and making overall consideration for next-step macro policies, Premier Li said.

Effective and targeted policies are needed to support market entities, especially micro-, small- and medium-sized enterprises and individual businesses, for better livelihoods.

Premier Li said as China has a strong domestic market, the strategy of expanding domestic demand must be firmly held.

He encouraged enterprises to provide medium-high end products and services by adapting to the economic structure and consumption upgrading trends, and explore markets in counties and townships by making use of their cost performance advantages to meet the vast demands at grassroots and improve the quality of people's livelihoods.

He also stressed giving full play to the key role of effective investment, and planning and implementing a batch of major programs and livelihood projects with participation of social forces.

The more difficult and complicated the situations are, the more the country should promote reform and opening-up, the Premier said.

Premier Li urged efforts to deepen administrative reforms, build a market-oriented, rule-based and international business environment, promote mass entrepreneurship and innovation, pool people's wisdom and strength, and stimulate vitality of market entities and social creativity.

Promoting higher-level opening-up was stressed. Taking the signing of the Regional Comprehensive Economic Partnership (RCEP) agreement as an opportunity, joint efforts must be made to build the world's largest free trade area, maintain the multilateral trade system, and facilitate free trade further, he added.

Related departments should make follow-up arrangements for the implementation of the agreement, and fulfill the commitment the government has made, he said.

The Premier also stressed expanding diversified international cooperation, and stabilizing industrial chains and supply chains for win-win results.

Vice-Premier Han Zheng, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, Vice-Premiers Sun Chunlan, Hu Chunhua and Liu He, and State Councilors Wang Yong, Wang Yi, Xiao Jie and Zhao Kezhi, and He Lifeng, head of the National Development and Reform Commission, also attended the symposium.