Li stresses continued efforts to stabilize economy

Beijing: Premier Li Keqiang has urged consistent efforts to promote reform and opening-up and implement a policy package to stabilize the economy so as to consolidate the momentum of economic growth and push for high-quality development.

Li made the remarks as he inspected the National Development and Reform Commission and the Ministry of Finance in Beijing.

During the tour to the NDRC, Li said that in face of COVID-19 and other greater-than-expected factors last year, the country’s top economic regulator has played an important role in stabilizing the economy.

The NDRC has proactively made responses, taken the lead in establishing coordination mechanisms and helped advance the construction of major projects and equipment replacement, Li said.

He urged the NDRC to forge ahead with concrete measures aimed at boosting development and enhance efforts to remove obstacles in the reform process.

At the Ministry of Finance, Li was given details on the implementation of proactive fiscal policy.

He said the nation has implemented policies such as cutting taxes and fees, which helped alleviate difficulties and pressures faced last year by market players, especially small and medium-sized enterprises and self-owned businesses.

The country’s financial departments have helped governments at all levels to tighten their belts through committing to negative growth in their budgetary spending and better securing people’s livelihoods, Li said.

Saying that the continuing trend of economic recovery and rebound amid risks and challenges is to be encouraged, Li added that it is important to overcome difficulties and keep consolidating the momentum of economic growth to promote sound economic and social development.