Source: Fujian, China
Li Keqiang presided over an executive meeting of the State Council
Decided to implement the policy of phased deferral of pension insurance premiums for extremely poor industries, increase unemployment insurance, support job stabilization and training
Deploy timely use of monetary policy tools to more effectively support the development of the real economy
Premier Li Keqiang presided over an executive meeting of the State Council on April 6, and decided to implement a policy of phased deferral of pension insurance premiums for extremely difficult industries, increase unemployment insurance to support job stabilization and training; deploy timely use of monetary policy tools to more effectively support the real economy develop.
The meeting pointed out that my country’s current economic operation has generally remained within a reasonable range, but the complexity and uncertainty of the domestic and foreign environments have intensified, and some have exceeded expectations. The recovery of the world economy has slowed down, the global commodity markets such as grain and energy have fluctuated sharply, and domestic epidemics have occurred frequently recently. The difficulties of market players have increased significantly, the smooth economic cycle has encountered some constraints, and the new downward pressure has further increased. It is necessary to strengthen confidence, but also We must attach great importance to and be alert to new problems and new challenges. It is necessary to implement the decisions and arrangements of the Party Central Committee and the State Council, coordinate epidemic prevention and control and economic and social development, and promptly implement the spirit of the Central Economic Work Conference and the measures of the “Government Work Report”, some of which can be implemented in advance. Put stable growth in a more prominent position, make overall plans to stabilize growth, adjust the structure, and push forward reforms, so as to effectively stabilize the macroeconomic market. To keep the economy operating in a reasonable range, mainly to achieve basic stability of employment and prices, we must focus on ensuring employment by stabilizing market players, and comprehensively implement policies to ensure smooth logistics, stable industrial and supply chains, and food and energy security. All departments should focus on the overall situation and take the initiative to act. While supervising the implementation of the established policies, they should promptly study policy plans in response to changes in the situation, and promptly introduce measures that are conducive to stabilizing market expectations. All regions should also take practical and effective measures such as rent reduction or exemption in light of their actual conditions.
The meeting pointed out that at present, some market players have been severely impacted, and some have even stopped production and business. It is necessary to increase protections such as bailouts and employment in response to outstanding difficulties. First, for catering, retail, tourism, civil aviation, road, water and railway transportation and other extremely difficult industries, the payment of endowment insurance premiums will be postponed in the second quarter of this year, and the scope of the phased deferred payment of unemployment and work-related injury insurance premiums that have been implemented will be covered by catering, The expansion of retail and tourism to the above five industries will ease the financial pressure of these industries, especially small and medium-sized enterprises and individual industrial and commercial households. The second is to continue the implementation of the phased expansion policy of unemployment insurance coverage, continue to provide unemployment subsidies to the insured unemployed and temporary living subsidies to the insured unemployed migrant workers before the end of this year. The third is to increase the ratio of unemployment insurance for small, medium and micro enterprises to return to stable jobs. Eligible areas can be raised from 60% to a maximum of 90%; localities are allowed to use an additional 4% of the unemployment insurance fund balance for vocational skills training, and to those affected by the epidemic. . Small, medium and micro enterprises that are temporarily unable to operate normally will be issued a one-time job training subsidy.
The meeting pointed out that it is necessary to flexibly use various monetary policy tools such as re-lending in a timely manner, better play the dual functions of total volume and structure, and increase support for the real economy. The first is to increase the implementation of a prudent monetary policy and maintain a reasonable and sufficient liquidity. Increase re-loans to support agriculture and small businesses, make good use of inclusive small and micro loan support tools, use market-oriented and legalized methods to promote financial institutions to reasonably transfer profits to the real economy, and promote small, medium and micro enterprises to increase financing, expand coverage, and reduce prices. The second is to study and adopt measures to financially support consumption and effective investment, improve the level of financial services for new citizens, optimize financial services for affordable housing, ensure the financing needs of key project construction, and promote the rapid growth of medium and long-term loans to the manufacturing industry. The third is to support financing in key areas and weak links, and set up two special re-loans for technological innovation and inclusive pensions. The People’s Bank of China provides 60% and 100% of the loan principal respectively. Do a good job in supplementing the capital of small and medium-sized banks with special government bonds, and enhance the credit capacity of banks.
Source丨Xinhua News Agency