Premier Li Keqiang presided over the executive meeting of the State Council on March 21 to determine the policy arrangements for the implementation of large-scale value-added tax rebate, so as to provide strong support for stabilizing the macro-economic market; We will deploy comprehensive measures to stabilize market expectations and maintain the steady and healthy development of the capital market. The meeting pointed out that in implementing the decisions and arrangements of the Party Central Committee and the State Council, in accordance with the arrangements of the government work report, and in view of the new changes in the current situation at home and abroad, the policy of stabilizing economic operation should be introduced and implemented as soon as possible. This year, the scale of value-added tax rebate is about 1.5 trillion yuan. This is a direct and efficient relief measure for all kinds of market entities by adhering to the "two unwavering". It is a key measure to stabilize growth, stabilize market entities and ensure employment. It is also a reform to conserve tax sources and vigorously improve the value-added tax system. The meeting decided that first, the tax rebate for small and micro enterprises in all industries and individual industrial and commercial households paying taxes according to the general tax calculation method is nearly 1 trillion yuan. Among them, the amount of tax retained in stock will be refunded in full at one time before the end of June, for micro enterprises in April and for small enterprises in May and June; The incremental amount of tax retained will be refunded in full on a monthly basis from April 1, and the tax refund conditions such as "the incremental amount of tax retained for six consecutive months is greater than 0 and the incremental amount of tax retained for the last month is greater than 500000 yuan" will be cancelled periodically. Second, the remaining tax credits for enterprises in six industries, including manufacturing, scientific research and technical services, electricity, heat, gas and water production and supply, software and information technology services, ecological protection and environmental governance, transportation, warehousing and postal services, will be refunded in full from July 1 and completed before the end of the year; The incremental retained tax amount shall also be refunded in full on a monthly basis from April 1. Third, on the basis of bearing 50% of the tax rebate funds according to the current tax system, the central government will set up three special projects by arranging 1.2 trillion yuan of transfer payment funds to support the grass-roots level in implementing tax rebate, tax reduction and fee reduction, ensuring employment and basic people's livelihood. Among them, the central financial subsidy for the local burden in the new retention tax rebate exceeds 82% on average, and is inclined to the central and western regions. The meeting called for the establishment of a fund allocation mechanism, monthly allocation and rolling liquidation, so as to ensure that the local treasury dynamically has the funds required for tax refund for half a month. We will strengthen the supervision of funds and the management of the state treasury, ensure that tax refund funds go directly to the main body of the market and local subsidies go directly to the grass-roots level of cities and counties, and resolutely crack down on and severely punish acts such as tax evasion, tax fraud and compensation fraud. The meeting listened to the report of the financial commission of the State Council and pointed out that we should attach great importance to the impact of changes in the international situation on China's capital market. Adhere to development as the top priority, strive to run our own affairs well, adhere to the principle of stability and seek progress in stability, deepen reform and opening up, keep the economy running within a reasonable range, implement scientific and effective policies, and maintain the stability of the capital market and maintain stable and healthy development. First, we should increase the use of monetary policies to support the real economy in a timely and rational manner, while maintaining a variety of financing tools. Second, maintain policy stability. In recent years, the policies to stabilize economic operation and stimulate market vitality should be implemented continuously as much as possible. At the same time, the consistency evaluation of policy orientation should be carried out to prevent and correct the introduction of policies that are not conducive to market expectations. Third, in accordance with the principles of marketization, rule of law and internationalization, we should properly handle the problems in the operation of the capital market and create a stable, transparent and predictable development environment for all kinds of market subjects. Fourth, strengthen departmental coordination, closely track the economic and financial situation at home and abroad, prepare for new challenges, and take targeted measures to stabilize market expectations and boost market confidence. Fifth, continue to do a good job in stabilizing foreign trade and foreign investment, maintain the basic stability of the RMB exchange rate at a reasonable and balanced level, and maintain the basic balance of international payments. (Xinhua News Agency)