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Vice-premier inspects enterprises and status in East China

Updated: Jul 12,2019 07:19 PM

Vice-Premier Liu He, a member of the Political Bureau of the Communist Party of China Central Committee and general office director of the Central Leading Group for Financial and Economic Affairs, on July 10 and 11 heard updates about enterprises and economic status at an economic symposium in Nanjing city in East China’s Jiangsu province.

The vice-premier was updated on the status of the current economic operation, the deepening reform, and practices relating to prevention and resolution of economic and financial risks in East China’s Jiangsu, Zhejiang provinces, Shanghai municipality, Central China’s Henan province, and South China’s Guangdong province.

The symposium, the 36th since 2003, always has been referred to for economic analysis and economic policy making.

In the first half of this year, the economy is progressing in high quality with stability. Focusing on supply-side structural reform, the CPC Central Committee and the State Council have adhered to proactive fiscal policies and steady monetary policies, and furthered counter-cyclical macro-control measures, such as tax cuts and fee reductions.

Such areas as employment, finance, foreign trade, and foreign investment have been stabilized based on local conditions by government at all levels. Moreover, macro-economic indicators, such as economic growth, employment, and commodity prices, are kept within a normal range.

Liu reminded those at the symposium it’s normal to face downward pressure in economic development, since objective factors concerning periodic development, and systematic and structural status are at play. To combat this and boost high-quality economic development, China is determined to maintain its goals and strategies while transforming government functions, intensifying the market’s role in allocating resources, and further opening China to the world.

He underlined the necessity to meet requirements from the Central Economic Working Conference and the government work report amid efforts to push fee and tax reductions and strive for stable and positive growth.

Liu talked with representatives of entrepreneurs about the development situation of various industries, production and operation of enterprises and suggestions on related policies. Among panel participants were the secretary of CPC committee, chief executive officers and chairmen from various major enterprises.

Liu stressed the importance of a dynamic and competitive micro base for the country’s economic development and upgrades, which requires State-owned enterprises to further reform constantly, private enterprises to strive for innovation and governments at all levels to ensure that all policies are implemented and a better business environment is created.