Li Keqiang presides over the State Council executive meeting to further deploy a package of measures to stabilize the economy
Recently, Premier Li Keqiang presided over a State Council executive meeting to further deploy a package of measures to stabilize the economy, striving to promote the economy to return to a normal track and ensure that it operates within a reasonable range.
The meeting pointed out that the current downward pressure on the economy continues to increase, and many market entities are facing great difficulties. Development is the foundation and key to solving all problems in our country. To implement the deployment of the Central Committee of the Communist Party of China and the State Council, strengthen confidence, respond decisively, fully implement the new development concept, efficiently coordinate epidemic prevention and control with economic and social development, accelerate the implementation of policies determined by the Central Economic Work Conference and the Government Work Report, and increase implementation efforts, adopt a package of targeted, powerful and effective interval regulation measures in accordance with the overall ideas and policy orientation, and stabilize the economic foundation.
The meeting decided to implement 33 measures in 6 aspects, mainly including: firstly, fiscal and related policies. Focus on stabilizing market entities and employment. We will implement full credit tax refunds for both stock and incremental amounts in more industries, increasing tax refunds by over 140 billion yuan and reducing the total amount of tax refunds for the year by 2.64 trillion yuan. Extend the policy of deferring social security contributions for small and medium-sized enterprises, individual businesses, and five extremely poor industries until the end of the year, and expand it to other extremely poor industries, with an estimated deferred payment of 320 billion yuan this year. Expand the unemployment insurance retention training subsidy to all financially disadvantaged insured enterprises. For small and medium-sized enterprises that attract college graduates, increase support such as job expansion subsidies. Various regions should increase support for small and micro enterprises, individual industrial and commercial households in water, electricity, electricity, rent, and other expenses. This year's special bonds will be fully utilized by the end of August, and the support scope will be expanded to include new infrastructure. The National Financing Guarantee Fund has added more than 1 trillion yuan to its cooperative business of re guarantee. The second is financial policy. Double the quota and proportion of inclusive small and micro loan support tools this year. For loans to small and medium-sized enterprises and individual businesses, truck and car loans, and consumer loans for temporarily distressed individuals, banks are supported to extend the repayment of principal and interest within the year; The 90 billion yuan commercial truck loan issued by a state-owned automobile enterprise requires banks and enterprises to jointly extend the repayment of principal and interest for six months. Shorten the acceptance period of commercial bills from 1 year to 6 months. Promote the legal and compliant listing of platform enterprises both domestically and internationally. The third is to stabilize the industrial chain and supply chain. Optimize policies for resuming work and achieving production, and improve services for "whitelist" enterprises. Ensure smooth freight transportation, lift travel restrictions from low-risk areas affected by the epidemic, and eliminate all unreasonable restrictions and fees. Passenger and freight drivers who undergo nucleic acid testing in different locations are equally entitled to free policies. Increase civil aviation emergency loans by 150 billion yuan and support the aviation industry in issuing 200 billion yuan bonds. Orderly increase domestic and international passenger flights, and formulate measures to facilitate the travel of foreign enterprise personnel. The fourth is to promote consumption and effective investment. Relaxing restrictions on car purchases and temporarily reducing the purchase tax on some passenger cars by 60 billion yuan. Urban policies are implemented to support both rigid and improved housing needs. Optimize approval, launch a new batch of water conservancy projects, especially large-scale water diversion irrigation, transportation, renovation of old residential areas, underground comprehensive pipe galleries, etc., and guide banks to provide large-scale long-term loans. Launch a new round of rural road construction and renovation. Support the issuance of 300 billion yuan railway construction bonds. Intensify efforts to replace work with relief. The fifth is to ensure energy security. Implement the responsibility for local coal production, adjust the policy of increasing coal mine production capacity, and accelerate the procedures for ensuring the supply of coal mines. Start another batch of energy projects such as hydropower, coal and electricity. The sixth is to ensure the basic livelihood of the people. We will do a good job in providing unemployment protection, subsistence allowances, and assistance to disadvantaged groups. Timely activate the linkage mechanism between social assistance and security standards and price increases based on the situation.
The meeting emphasized that all regions and departments should enhance their sense of urgency and vigorously implement it. The relevant departments should refine and publicize the implementation of the package of measures as soon as possible. The State Council will supervise the implementation of measures to stabilize the economy at the local level, and local governments should promptly introduce policies that are in line with local conditions to stabilize the economy.
Information source: City News
