Li Keqiang Chairs the Executive Meeting of the State Council
Listen to the report on the supervision and service work of stabilizing the economy, fully release the effectiveness of policies, and accelerate the expansion of effective demand
Determine measures to further optimize the business environment and reduce institutional transaction costs, and continue to reduce the burden and activation power of market entities
Click to play the video to continuously reduce the burden and activate the market entities.
The meeting pointed out that it is necessary to implement the deployment of the Party Central Committee and the State Council, maintain economic operation within a reasonable range, and strive for the best results. In response to the impact of unexpected factors in economic operation, we were able to use up the policy tools reserved for the past two years in the early stage and promptly and decisively launch a package of stable economic policies and follow-up policies. Due to the difficulties encountered by market entities in some aspects compared to 2020, this year’s tax refunds, reductions, and fees exceeded 2020. We have also introduced strong policies to stabilize investment and promote consumption, and the overall policy scale is reasonable and moderate. Currently at a critical juncture in economic recovery, accelerating the release of policy effectiveness is crucial. Recently, the State Council dispatched a working group to major economic provinces to supervise and provide services to stabilize the overall economic situation, and solved a number of difficult and blocking issues on site. We should continue to seize the moment to implement, use the reform method of “decentralization, regulation and service” to further promote the package of policies to stabilize the economy and give full play to its effectiveness. We should refine the continuation policy of implementation, and make full use of the implementation rules in the first ten days of September. We should focus on expanding effective demand, promoting investment to drive consumption and increase employment, consolidating the foundation of economic recovery, and enhancing the potential for development. Firstly, on the basis of making good use of newly added policy oriented development financial instruments worth over 300 billion yuan, we will expand the scale according to actual needs, meet the funding needs of mature projects that meet the conditions, and avoid the occurrence of funding situations such as projects; Include new projects starting in the first half of the year in the scope of support, and automatically include projects that previously met the conditions but were not launched due to quota restrictions in support, in order to generate more physical workload in the third quarter and provide timely market demand for manufacturing and individual businesses. The second is to expand the areas supported by policy based development financial tools, including the renovation of old residential areas and provincial-level highways, and try to attract private investment as much as possible. Thirdly, policies should be introduced as soon as possible to support the upgrading and renovation of equipment in manufacturing enterprises, vocational colleges, and other fields. The fourth is to guide commercial banks to expand their medium – and long-term loan investment, and allocate sufficient financing for key project construction and equipment renovation. This is also conducive to expanding the effective demand for credit. Relevant departments should improve the assessment of banks, and banks should improve their internal assessment and due diligence exemption regulations, forming incentive mechanisms. The fifth is to continue to adopt centralized office and parallel processing methods for key projects, improve approval efficiency, and strengthen factor protection. Local governments can make commitments to land use, environmental impact assessment, and other procedures based on their responsibilities and authorities.No, the project will be completed according to regulations after landing. The sixth is to support the demand for rigid and improved housing. Local governments should make good use of the policy toolbox of “one city, one policy”, and flexibly use phased credit policies and special loans for guaranteed housing. Promote mass consumption such as automobiles. Seventh, the State Council will dispatch another group of supervisory and service working groups to several provinces to promote policy implementation. Timely verification and follow-up, with a focus on verifying the completion of physical workload and procedures in the third quarter of project construction. Eighth, various regions should also establish supervision and service work mechanisms. The construction of key projects should be carried out in accordance with the principles of returns, ensuring that funds are not misappropriated, and ensuring project quality, without losing the opportunity to advance.
The meeting pointed out that reform is an extremely important tool in the policy toolbox, and we should adhere to the activation of reform to further reduce the institutional transaction costs of market entities. This mainly includes in-depth rectification of illegal fees charged by enterprises, strict delineation of power boundaries, and serious investigation and punishment of illegal fines, excessive collection of taxes and fees, and other behaviors. Promote one-time licensing for industrial production of products of the same type. Strengthen supervision, crack down on counterfeit goods, and maintain fair competition. Improve the mechanism for collecting and handling clues on business environment issues.