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China launches measures to stabilize key economic indicators

China adopts many powerful and targeted measures to stabilize Economic performance Power, cargo volumes and bank lending have all declined since April in order to get the economy back on track and stabilize key economic indicators, according to a recent decision at the State Council Executive Meeting chaired by Prime Minister Li Keqiang. Stated.

“No level of GDP [gross domestic product] Growth and stable employment cannot be achieved. One of the good things is that over the past few years, we have refrained from excessive money supply and a large amount of stimulus, and policy tools are still in place. “

Recognizing the increasing pressure on the economy and the serious difficulties faced by many market actors, the conference is confident, categorical, fully applies new development philosophies, and makes COVID responsive economy highly efficient. He emphasized the need for social development and coordination. The media reported.

China has a number of powerful and targeted steps to stabilize its economic performance, get the economy back on track and stabilize key economic indicators, according to a recent decision at the State Council Executive Meeting chaired by Prime Minister Li Keqiang. Is adopted. , Cargo volumes and bank loans have all declined since April.

The meeting decided to implement 33 measures on six aspects, primarily including fiscal and related policies to stabilize market-based operations and employment.

The refund policy for unpaid value-added tax (VAT) deductions has been expanded to more industries, with refunds increasing by more than 140 billion yuan and total tax deductions expected to reach 2.64 trillion yuan this year.

Postponement premium payment policies for old-age, unemployment, and workplace safety insurance programs by small businesses (MSME), self-employed, and companies in the five devastated sectors (catering, retail, tourism, and civil aviation). Highways, waterways and rail transport will be extended until the end of this year and will be extended to other industries facing serious problems. as a result, This year’s deferred payment will reach 320 billion yuan.

Subsidies to retain employees with unemployment insurance will be extended to all affected companies participating in the scheme. MSMEs that hire college graduates will be provided with greater support, such as social insurance subsidies. Local governments need to expand their support for micro and SMEs and self-employed people in terms of utility bills and rents.

The meeting decided to take a series of fiscal policies. The size of comprehensive lending support facilities for SMEs and their share of the increase in lending balances will double this year.

Banks have postponed repayment of principal and interest on MSME and self-employed loans, truck loans, mortgages, and consumer loans borne by individuals facing temporary difficulties later this year. Will be supported.

The payment period for commercial invoices will be reduced from one year to six months. Platform companies are encouraged to be listed on domestic and overseas markets in accordance with legislation.

At the meeting, measures were adopted to stabilize the industrial and supply chains as well. Policies will be fine-tuned to enable early resumption of the enterprise and its full capacity production. We will improve our services for whitelisted companies.

Cargo logistics are kept smooth. Restrictions on the passage of trucks from low COVID risk areas will be lifted and all excessive height restrictions and arbitrary charges will be removed. Non-local drivers of passenger cars and freight cars have access to free COVID inspections, just like locals.

A new round of construction and refurbishment of local roads will begin. Support the issuance of 300 billion yuan railway construction bonds. More is done to promote public works programs.

Energy security is ensured. The local government must fulfill its responsibility to maintain coal production. The policy for approving the higher capacity of coal mining will be readjusted and the procedure for designating coal mining of particular importance to energy supply will be accelerated. Many new hydro and coal-fired power projects will be launched this year.

Fiber2Fashion News Desk (DS)



China launches measures to stabilize key economic indicators

Source link China launches measures to stabilize key economic indicators

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