Chinese premier stresses importance of stabilizing economic fundamentals

Chinese Premier Li Keqiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, presides over a symposium on the economic situation attended by economists and entrepreneurs in Beijing, capital of China, April 7, 2022. Chinese Vice Premier Han Zheng, also a member of the Standing Committee of the Political Bureau of the CPC Central Committee, attended the symposium. (Xinhua/Wang Ye)

BEIJING, April 8 (Xinhua) -- Chinese Premier Li Keqiang has stressed the importance of efforts to keep the fundamentals of the economy stable and ensure the country's economy runs within an appropriate range.

Li, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, made the remarks while presiding over a symposium on the economic situation, attended by economists and entrepreneurs on Thursday.

Noting that complicated global situation and domestic COVID-19 resurgences have brought about greater uncertainties and challenges to the stable economic performance, Li called for efforts to balance epidemic response and economic and social development, and stressed that introduced policies should produce effects early on and be intensified when appropriate.

The economists and entrepreneurs in attendance offered suggestions on measures to implement macro policies, promote logistics and transport, ensure farming supplies, and boost enterprise innovation.

Noting that some market entities are facing mounting pressures, Li said that measures such as facilitating value-added tax credit refunds should be taken to help market entities, especially those of smaller scales, tide over the difficulties.

The key to keeping the country's economy running within an appropriate range is stabilizing employment and price levels, Li said.

On boosting employment, the premier stressed the importance of improving employment services for university and college graduates, and encouraging business start-ups.

Aiming to stabilize prices, China should ramp up efforts in key fields such as grain production, energy supply and logistics operations, Li said.

He urged more targeted measures, including promoting spring farming, supporting coal companies and power plants to generate more electricity, and guaranteeing the orderly operations of major transport networks.

When formulating and implementing policies, all types of enterprises should be treated equally, with their voices heard and market expectations anchored, Li said.

Efforts should be made to promote the sound and sustainable development of the platform economy, and more support should be given to consumption-related sectors such as retail, catering and tourism to help ease difficulties, the premier said.

Li called for the expansion of high-level opening-up, doing a good job in stabilizing foreign trade and foreign investment, maintaining the renminbi exchange rate at a generally stable, adaptive and balanced level to effectively address external uncertainties. 

Chinese Premier Li Keqiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, presides over a symposium on the economic situation attended by economists and entrepreneurs in Beijing, capital of China, April 7, 2022. Chinese Vice Premier Han Zheng, also a member of the Standing Committee of the Political Bureau of the CPC Central Committee, attended the symposium. (Xinhua/Wang Ye)

Chinese Premier Li Keqiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, presides over a symposium on the economic situation attended by economists and entrepreneurs in Beijing, capital of China, April 7, 2022. Chinese Vice Premier Han Zheng, also a member of the Standing Committee of the Political Bureau of the CPC Central Committee, attended the symposium. (Xinhua/Wang Ye)