Li Keqiang presided over the executive meeting of the State Council

2022-04-07

Premier Li Keqiang chaired an executive meeting of the State Council on April 6 and decided to implement a phased policy of delaying the payment of old-age insurance premiums for industries in extreme poverty, and strengthen unemployment insurance support for job stabilization and training; Deploy and timely use monetary policy tools to more effectively support the development of the real economy. The meeting pointed out that at present, China's economic operation is generally maintained within a reasonable range, but the complexity and uncertainty of the environment at home and abroad are increasing, and some exceed expectations. The world economic recovery has slowed down, the global food, energy and other commodity markets have fluctuated sharply, the domestic epidemic has occurred frequently recently, the difficulties of market players have increased significantly, the smooth economic cycle has encountered some constraints, and the new downward pressure has further increased. We should not only strengthen confidence, but also pay high attention to and be alert to new problems and challenges. We should implement the decisions and arrangements of the Party Central Committee and the State Council, coordinate epidemic prevention and control and economic and social development, and pay close attention to the implementation of the spirit of the central economic work conference and the measures of the government work report. Some can be implemented in advance. We will place steady growth in a more prominent position, coordinate steady growth, adjust structure and promote reform, and effectively stabilize the overall macroeconomic market. To keep the economy operating within a reasonable range, we should mainly achieve basic stability in employment and prices. We should strive to ensure employment by stabilizing market players, comprehensively implement policies to ensure smooth logistics and stable industrial chain supply chain, and ensure food and energy security. All departments should focus on the overall situation and take the initiative. While urging the implementation of the established policies, they should pay close attention to the study of policy plans according to the changes of the situation, and timely introduce measures conducive to the expected stability of the market. All regions should also take practical and effective measures such as rent reduction and exemption in combination with reality. The meeting pointed out that at present, some market entities have been seriously impacted, and some have even stopped production and business. We must strengthen the guarantee of relief and employment in view of the outstanding difficulties. First, for the catering, retail, tourism, civil aviation, highway, waterway and railway transportation and other industries with special difficulties, the suspension of payment of pension insurance premiums was implemented in the second quarter of this year, and the scope of the phased suspension of payment of unemployment and work-related injury insurance premiums has been expanded from catering, retail and tourism to the above five industries, so as to alleviate the capital pressure of these industries, especially small, medium-sized and micro enterprises and individual industrial and commercial households. Second, we will continue to implement the phased expansion policy of unemployment insurance. By the end of this year, we will continue to pay unemployment subsidies to the insured unemployed and temporary living subsidies to the insured unemployed migrant workers. Third, we will increase the proportion of job stabilization returns of unemployment insurance for small, medium-sized and micro enterprises, from 60% to 90% in eligible areas; Local governments are allowed to use another 4% of the unemployment insurance fund balance for vocational skills training, and a one-time retention training subsidy is granted to small, medium-sized and micro enterprises affected by the epidemic and temporarily unable to operate normally. The meeting pointed out that we should make timely and flexible use of various monetary policy tools such as refinancing, give better play to the dual functions of aggregate and structure, and increase support for the real economy. First, strengthen the implementation of prudent monetary policy and maintain reasonable and sufficient liquidity. We will increase re loans for supporting agriculture and small businesses, make good use of inclusive small and micro loan support tools, use market-oriented and legalized methods to promote financial institutions to reasonably transfer profits to the real economy, and promote the financing increment, expansion and price reduction of small, medium-sized and micro enterprises. The second is to study and adopt financial measures to support consumption and effective investment, improve the level of financial services for new citizens, optimize affordable housing financial services, ensure the financing needs of key projects, and promote the rapid growth of medium and long-term loans in the manufacturing industry. Third, support the financing of key areas and weak links, establish two special refinancing projects: scientific and technological innovation and inclusive pension, and the people's Bank of China provides 60% and 100% refinancing support for the loan principal respectively. We will do a good job in replenishing the capital of small and medium-sized banks with special government bonds, and enhance the credit capacity of banks. (Xinhua News Agency)

Edit:He Chuanning    Responsible editor:Su Suiyue

Source:Xinhua

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