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Premier seeks advice on economic situation

Updated: Apr 11,2021 21:42

Premier Li Keqiang called for efforts to stabilize and improve the economy in a sound manner, and maintain the continuity, stability, and sustainability of the macro policies.

Premier Li, who also is a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, made the remarks at a symposium on April 9 with experts and entrepreneurs.

The symposium analyzed the current economic situation, and sought opinions and suggestions for follow-up work.

Vice-Premier Han Zheng, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, also attended the meeting.

Measures on tax and fee cuts proved beneficial and effective, according to attendees. As a result, the whole economy, and production and management of enterprises keep recovering, but the big price rise in major international commodities is adding pressure for cost increases. Suggestions were made on several issues, including stabilizing economic operation, the development of small and micro enterprises and import and export trade, as well as tourism progress.

This year, with good implementation of decisions by the CPC Central Committee and the State Council, and excellent performance by market entities, the economy continues recovering, reinforcing, and improving steadily, Premier Li said.

He stressed the economic situation should be studied comprehensively and objectively, noting the facts that the relatively low base of the same period last year is non-comparable, complicated, and severe international circumstances are bringing new uncertainties, and the domestic economy is not recovering in a balanced manner.

The Premier asked related departments to continue with regular prevention and control measures on COVID-19, while giving consideration to longer terms. Policy adjustments should be consistent to guide rational market expectations.

Reform and opening-up should be further promoted, economic operation kept within a reasonable range and high-quality development pursued to lay a solid foundation for the future, he noted.

Authorities should track and analyze fluctuations in domestic and international trends, conduct scientific and accurate implementation of macro regulations, stick to targeted tax reduction policies and keep up with policies that secure employment, people's livelihood, and market entities.

Premier Li pressed for efforts to help market entities regain vitality and gather momentum by putting in place measures that support small and micro enterprises and the self-employed, and by making full use of policies such as raising the ratio of extra tax deductions on manufacturing firms’ R&D costs to facilitate their innovation and upgrade.

Further efforts should be made to strengthen financial services for market entities, especially small and micro-sized enterprises, and the self-employed, to navigate more capital flow into the real economy and effectively defuse risks, he added.

Noting the real estate market calls for stable and healthy development, he said market adjustments should play a bigger role in raw materials to ease enterprises' cost burden.

As the basis of stabilizing economic fundamentals, safeguarding employment should stay high on the agenda, according to the Premier. Marketized and socialized measures should be adopted to expand job-hunting channels for key groups, such as college graduates, and flexible employment should be boosted to guarantee full employment and an increase in residents' income.

The government should promote reform and opening-up, optimize the business environment and energize market entities to a higher degree, he said.

Reform to delegate power, streamline administration and optimize government services should be advanced, Premier Li said, adding unreasonable constraints that hinder enterprises' development should be removed, impartial supervision and regulation adopted to promote fair competition, administrative services enhanced to meet enterprises' expectations and more market entities cultivated with higher vitality.

The government should expand opening-up, stabilize foreign trade and investment, keep a basically stable RMB exchange rate at an appropriate and balanced level, and uphold stable and secured industrial and supply chains.

Also attending the symposium were vice-premiers Sun Chunlan, Hu Chunhua, and Liu He, state councilors Wang Yong, Xiao Jie, and Zhao Kezhi, as well as He Lifeng, head of the National Development and Reform Commission.