State Councilor Wang Yong stressed the urgency of paying off overdue debts to private, small and medium enterprises while addressing a related teleconference on Feb 26 in Beijing, in a bid to create a favorable business environment for the enterprises.

He fully affirmed the progress of related government work and eyed further efforts in this regard. Organization and leadership should be strengthened, with departments concerned working in concert, he said, adding that a clear, targeted, and practical repayment plan should be worked out.

Meanwhile, departments concerned should keep track of the progress of debt payment, improve support measures, formulate schedules, and track down the source of funds.

Debt payment, he said, should be subject to supervision and specific spot checks by the State Council. And a long-term mechanism should be established to guarantee the fulfillment of annual repayment targets.