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China

Li Keqiang Chairs the Fourth Quarter Work Promotion Conference on Stabilizing the Economy

2022-09-29   

On September 28, Li Keqiang, member of the Standing Committee of the Political Bureau of the Central Committee of the Communist Party of China and Premier of the State Council, presided over the meeting to re deploy and promote the implementation of the work of stabilizing the economic market in the fourth quarter. Han Zheng, member of the Standing Committee of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, attended. The National Development and Reform Commission, the Ministry of Finance, the Ministry of Human Resources and Social Security, the Ministry of Commerce, the People's Bank of China and the Working Group of the State Council on Stabilizing the Economic Market made reports. Li Keqiang said that the economy declined significantly in the early second quarter due to the impact of factors beyond expectations. We resolutely stepped up the implementation of macro policies, and introduced a package of policies and follow-up policies to stabilize the economy in time. The policy tools we reserved in previous years can be used up, with strong policies and reasonable scale. We will give more prominence to stabilizing growth, work hard to ensure that market players stabilize employment and prices, expand effective demand, and stimulate reform. Supervise and provide services to local governments, and coordinate to solve the difficulties in the implementation of policies and projects. After hard work, the economic downturn was reversed, and the economy recovered in the third quarter. Li Keqiang said that stabilizing the economic market is crucial to employment and people's livelihood. The economy in the fourth quarter plays the most important role in the whole year, and many policies will play a greater role in the fourth quarter. It is necessary to strengthen confidence, seize the time window and time node, stabilize market expectations, promote the implementation of policies and measures in an all-round way, and make full effects to ensure that the economy operates within a reasonable range. Li Keqiang said that we should focus on key work. In response to the prominent contradiction of weak demand, we will try every way to expand effective investment and promote consumption, mobilize the enthusiasm of market players and social capital, continue to implement the package policy and the continuation policy of stabilizing the economy, and focus on making good use of the two important policy tools recently introduced. First, make good use of policy based development financial instruments, reasonably determine the quota according to local project needs, accelerate the use of funds and infrastructure project construction, and create more physical work in the fourth quarter. Second, we will make good use of special refinancing, financial discount and other policies, accelerate the upgrading and transformation of equipment in manufacturing, service, social services and other fields, and form realistic needs as soon as possible. At the same time, in accordance with the law and regulations, the quota of special debt for the next year was issued in advance. To implement the policy for urban residents, we should use the tools in the policy toolbox to support the rigid and improved housing demand and implement the policy of ensuring the delivery of buildings. Ensure smooth logistics. We will ensure the stable supply of coal, electricity and other energy sources. All supervision and service working groups shall maintain "online" status with relevant provinces, guide and coordinate to solve difficulties in a timely manner. The coordination mechanism for effective investment in important projects will operate continuously and efficiently. All departments should complete a number of major measures that have been determined, promptly issue detailed rules, and do a good job in project connection. All localities should strengthen the implementation of policies and supporting efforts to ensure the quality of project construction. Large economic provinces should play a role in stabilizing the economy. Li Keqiang said that as the number of people in need increases, we should ensure people's wellbeing and keep the bottom line. Expand the coverage of subsistence allowances in the fourth quarter

Edit:He Chuanning Responsible editor:Su Suiyue

Source:Xinhua

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