Home News Chinese Premier: New downward pressure on the domestic economy, macroeconomic policies should continue to focus on market players | Reuters

Chinese Premier: New downward pressure on the domestic economy, macroeconomic policies should continue to focus on market players | Reuters

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Reuters, Beijing, November 19-Chinese Premier Li Keqiang hosted a symposium of economic situation experts and entrepreneurs on Thursday to analyze the economic situation. He pointed out that the current domestic and international situation is still complicated and severe, and the domestic economy is under new downward pressure, and there are many challenges to continue to maintain stable operation on a high base.

Xinhua News Agency published a conference press release on Friday quoting him and said that it is necessary to continue to normalize the epidemic prevention and control, strengthen the “six stability” and “six guarantees”, especially the market entities to ensure employment and people’s livelihood, and strengthen the forward-looking targeting of macro policies. We will promote reform and opening up, do a good job of inter-cyclical adjustments, and keep the economy operating within a reasonable range and the overall employment situation is stable.

“The hundreds of millions of market players are where China’s economic resilience and potential lie. It strongly supports the basic employment market. Macroeconomic policies must continue to focus on market players,” Li Keqiang said.

Specifically, while continuing the systemic tax cuts and implementing the established tax deferral policies, we will study the adoption of new combined and phased tax and fee reduction measures, and improve policies such as additional deductions for research and development expenses, and tax refunds for value-added tax. Support manufacturing enterprises, small, medium and micro enterprises, and individual industrial and commercial households in alleviating difficulties and innovating and upgrading.

Various policies to support coal power companies must be implemented to ensure stable power supply.

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It is also necessary to take targeted measures to strengthen economic operation adjustment and ease the pressure that the rise in commodity prices transmits to downstream small, medium and micro enterprises.

“Every aspect must think of more ways to create a good environment for the development of market players,” Li Keqiang said.

He also pointed out that it is necessary to promote reform and opening up, and to withstand difficult pressures by stimulating the vitality of market entities. Continue to promote the reform of “delegating control and service”, optimize the business environment, maintain fair competition, treat all kinds of market players equally, drive more employment and increase residents’ income, and promote consumption expansion.

While maintaining government investment and promoting key construction, reforms should be used to mobilize social investment enthusiasm, give full play to the huge domestic market advantage, and release the potential of domestic demand.

It is necessary to further open up to the outside world, improve import and export support policies, maintain the basic stability of the RMB exchange rate at a reasonable and balanced level, and support the development of new forms of foreign trade such as cross-border e-commerce and overseas warehouses. Seize the opportunity of the effective implementation of RCEP (Regional Comprehensive Economic Partnership Agreement) to deepen and expand international cooperation. (over)

Qiao Yanhong; Reviewer Zhang Xiliang

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