All policies introduced in the Government Work Report must be effectively delivered to meet the targets and tasks for economic and social development this year, Premier Li Keqiang said at the State Council executive meeting on May 29.

Those at the meeting assigned the 51 key tasks in 45 areas as laid out in the work report to relevant departments under the State Council.

The Government Work Report, adopted at the just concluded third session of the 13th National People’s Congress, sets out the targets and priorities for economic and social development this year and reflects what the people hope for and drew upon the wisdom of various sectors of society. It comprises tasks and commitments that governments at all levels must fulfill 100 percent, Premier Li said.

No delay in fund allocation and adoption of supporting measures

At the meeting Premier Li urged putting those policies providing relief to businesses and revitalizing the market in place as soon as possible.

There must be no delay in the allocation of fiscal funds, issuance of bonds, and adoption of supporting measures, the Premier stressed.

According to Premier Li, the policies of a sizable scale covers the increase of fiscal deficits and the issuance of government bonds for COVID-19 control, as well as reduction of social insurance charges, use of the balance of unemployment insurance funds, interest concessions made by State-owned commercial banks, price reductions in natural monopoly industries, and increase of the scale of special bonds for local governments.

To make full use of the money, a new way must be explored, he noted.

A special mechanism should be set up to see that the funds go straight to primary-level governments and be put to effective use. Special accounts should be established under public finance and social security departments. All funds must directly benefit market entities, especially micro, small and medium businesses and self-employed individuals, as well as vulnerable groups. No such funds should be withheld, according to the Premier.

Agencies for local public finance oversight, treasury management under the People’s Bank of China, and auditing must step up supervision under their purview and forge a synergy of oversight to promptly deal with any attempt at false accounting or embezzlement.

The funds must be sent to market players and the people as soon as possible, and any deceit will be punished with due severity, the Premier stressed.

Policies for tax and fee cuts, electricity rate reduction, loan payment deferral, and reduction or exemption of civil aviation development fund contributions and port construction fees must be fully delivered without fail. “Real gains must be extended to businesses and people in need in an inclusive and equitable way,” Premier Li said.

Ensuring the development of enterprises is crucial to this year’s economic development and is the key to maintaining security in the six areas, which promises this year’s economic growth, the Premier said.

Reform and opening-up, driver of China’s economic growth

The favorable policies of a sizable scale are important and what is more important is to further promote reform and opening-up so as to boost market vitality and social creativity, Premier Li said.

Now that epidemic prevention and control are routine, practices of reaching out to meet the needs of business during COVID-19 control should be encouraged, and unnecessary epidemic control measures should be removed to loosen restrictions on market entities, the Premier added.

At the press meeting on May 28, Premier Li said that a city in China’s western region, in keeping with local rules and regulations, set up 36,000 mobile stalls, adding some 100,000 new jobs. The Premier reiterated this example at the executive meeting on May 29, saying hundreds of millions of people are employed in new forms of businesses and industries, and to ensure the employment of such a huge group, efforts must be made to lift all unwarranted restrictions and to find solutions through reform.

The Premier urged the government to press ahead with reform of government functions, and continue to foster a market-oriented and world-class business environment governed by a sound legal framework.

He said during the global COVID-19 pandemic outbreak, many countries are striving to control the epidemic, and at the same time, to sustain economies.

The Premier stressed the role of international cooperation in both fighting the epidemic and developing the economy, saying China should perform a wider opening-up to cultivate a big market for the whole world that is attractive to foreign investors.

Premier Li also said that reform and opening-up are the ultimate momentum of China’s economic growth, adding that as long as China has been growing with stability, it will not be afraid of any difficulty.

Action speaks louder than words

“Related departments should enhance the sense of responsibility and urgency, supervise work implementation, respect objective law, and reject pointless formalities,” Premier Li said.

The Premier said that maintaining security in the six areas is the breakthrough and key point of ensuring stability on the six fronts. By doing so, positive growth can be achieved, which is an extraordinary achievement with global economic recession as the background, the Premier said.

“Maintaining security in the six areas involves work in all aspects. Ministries and departments should act according to work division to ensure work is truly done and implemented. We must do solid work. Action speaks louder than words.” Premier Li said.

The Premier required ministries and related departments should appoint the people in charge and make a timetable according to the task division of the Government Work Report and clarify targets at every phase and in the final with regular supervision.

Leading departments and coordinating departments should cooperate rather than passing the buck. The General Office of the State Council should do regular inspections. Special inspections will be carried out aiming at those with slow progress, insignificant results, and a perfunctory attitude. Inaction and misconduct will be held accountable.

“I said at the press conference yesterday that the central government will cut over 50 percent of outlays on non-essential and non-obligatory items”, the Premier said, “Governments at all levels should tighten their belt. Any waste is not allowed. We should accept supervision by our people and truly benefit our people.”

The last requirement Premier Li made was to fully predict the complexity and severity of the current situation. A close follow-up of the global pandemic and changes in economic situation should be made.

Emphasis should be laid on studying and solving problems encountered in policy implementation; policies should be improved in time; reserved policies should be made, and new measures should be taken at the proper time. The fundamentals of the stable economy should be kept, economic growth should be promoted and achieved, and the annual social economic task should be fulfilled.

“If the policies to overcome difficulties and stimulate market vitality can achieve practical results, this will be a new way of market-oriented reform,” Premier Li said. “Ministries and departments should make concentrated efforts to implement the major tasks proposed in the Government Work Report. By doing so, the Chinese economy will pull through and people will truly receive benefits.”