Home » Chinese Premier: We must focus on keeping the economy operating within a reasonable range to stimulate market vitality and social creativity | Reuters

Chinese Premier: We must focus on keeping the economy operating within a reasonable range to stimulate market vitality and social creativity | Reuters

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Chinese Premier: We must focus on keeping the economy operating within a reasonable range to stimulate market vitality and social creativity | Reuters

BEIJING, March 6 (Reuters) – Chinese Premier Li Keqiang said on Sunday that the development of this year will face more difficulties and challenges, deepen reforms, expand opening up, stimulate market vitality and social creativity, and focus on keeping the economy operating within a reasonable range.

When he participated in the deliberation of the Guangxi delegation of the two sessions, he pointed out that stable employment and people’s livelihood are guaranteed, and employment is the foundation of people’s livelihood. There are 150 million market players in China, and they support stable employment. It is necessary to continue to face market players, increase the implementation of macro policies, reduce taxes and rebates, and give priority to small and micro enterprises to support the manufacturing industry to reach market players.

He said that this year’s fiscal deficit rate has declined, and the scale of expenditure has increased significantly, mainly due to the fact that certain state-owned financial institutions have turned over the balance of profits in recent years in accordance with the law. This fund was not used in the previous year and last year, leaving policy space for this year.

In his government work report this year on Saturday, Li Keqiang mentioned that GDP growth will be around 5.5%, and that this year’s deficit rate will be set at around 2.8%, which is lower than last year, which will help enhance fiscal sustainability. It is expected that fiscal revenue will continue to grow this year. In addition, certain state-owned financial institutions and specialized institutions have turned over their profits from recent years in accordance with the law and transferred them to the budget stabilization fund. The scale of expenditure has increased by more than 2 trillion yuan compared with last year, and the available financial resources have increased significantly. (over)

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Published by Shen Yan; Reviewed by Qu Guijuan

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