Support for enterprises to help protect jobs

China will step up efforts to support enterprises and protect jobs by unveiling new policies and improving existing ones, according to an executive meeting of the State Council on May 6.

The meeting, presided over by Premier Li Keqiang, heard reports on the implementation of policies and measures to support the resumption of work and production and bail out enterprises.

Thanks to the positive effect of 90 new policies, work and production were returning to normal, some difficulties faced by companies had been addressed, and the economy and society were getting back to normal, the meeting said.

To maintain solid economic fundamentals, it emphasized the importance of focusing on "six priorities": safeguarding employment, people's livelihoods, the development of market entities, food and energy security, the stable operation of industrial and supply chains, and the smooth functioning of society.

Policies that have been introduced to support businesses, especially micro-sized, small and sole-proprietor ones, should be fully implemented to benefit them better, secure job positions, and minimize the impact of the novel coronavirus pneumonia pandemic on the employment and income of migrant workers and others, the meeting said.

The meeting also called for domestic demand to be boosted as a matter of strategy and for multiple steps to be taken to drive consumption.

To reinforce weak links exposed by the response to the pandemic and vulnerable areas of socioeconomic development, the meeting decided that efforts should be made to accelerate the construction of major projects set out in national plans, effectively utilizing investment allocated from the central government budget and local government special bonds.

It also urged continued efforts to improve the business environment, including updating the negative list on market access and removing hurdles to market access faced by private firms, especially micro-sized, small and medium-sized enterprises, to boost effective investment from the private sector.

46 e-commerce zones win Cabinet approval

The State Council, China's Cabinet, has approved the establishment of integrated pilot zones for cross-border e-commerce in 46 cities and regions, including the Xiongan New Area, according to a circular published on May 6.

As required by the Communist Party of China Central Committee and the State Council, the new zones should draw experience from existing zones to drive industrial upgrading and transformation, boost brand building, and propel cross-border e-commerce across the board, so as to stabilize the fundamentals of foreign trade and investment and promote the high-quality development of trade, it said.

The development of pilot zones should be well regulated to guarantee national security, internet security, the quality of imported and exported goods, and effectively prevent transaction risks.

The circular also said that a fair and sound business environment should be created for various market entities.

For orderly development, the circular required local governments to employ an innovation-driven model where the market can play a decisive role in resource allocation, and make new breakthroughs in improving mechanisms for cross-border e-commerce and related systems.

State Council departments should strengthen coordination, guidance, and policy support for the integrated pilot zones and consider incorporating cities with eligible zones into the pilot program on retail e-commerce imports, it added.