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Premier Li Keqiang Chairs State Council Executive Meeting

2020/05/07

On 6 May, Premier Li Keqiang chaired a State Council executive meeting to hear progress report on the delivery of policies to facilitate the resumption of work and production and support businesses in difficulty. The meeting also adopted further measures to stabilize business performance and employment.

The meeting highlighted the need to effectively take forward the six priorities, namely, employment, people's livelihood, the development of market entities, food and energy security, stable operation of the industrial and supply chains, and smooth functioning at the community level. These efforts are designed to ensure stability in the six key areas, namely, stability in employment, finance, foreign trade, foreign investment, domestic investment, and market expectations, and maintain solid economic fundamentals.

The meeting urged full implementation of all the policies introduced to help companies, especially micro, small and household businesses, overcome difficulties. Steps must be taken to make employment more stable and to cushion the impact on jobs and income of workers, including migrant workers, and better provide for people's livelihoods.

The meeting called for boosting domestic demand as a matter of strategy and taking multi-pronged measures to spur consumption.

To reinforce the weak links exposed in the COVID-19 response and vulnerable areas in socio-economic development, the meeting urged accelerating the major construction projects set out in the national plans.

Continued efforts will be made to improve the business environment, including updating the negative list on market access, and removing the access hurdles facing private firms, especially micro, small and medium-sized enterprises, to boost effective investment from the private sector.

Foreign trade policies will be refined. The negative list on foreign investment and the catalog of industries where foreign investment is encouraged will be revised at a faster pace to further relax restrictions on foreign investment.

(The full text is available at http://www.xinhuanet.com/politics/leaders/2020-05/06/c_1125949477.htm)

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