Chinese premier stresses monetary policy tools to support real economy

Chinese Premier Li Keqiang said the country will use monetary policy tools where necessary to effectively support the real economy.

Chairing a State Council executive meeting, Li also stressed the need for companies in troubled industries to postpone pension insurance payments, as well as stabilize jobs and strengthen job training. ‘job.

The meeting noted that despite the current complexity and uncertainty both at home and abroad, the country’s overall economic indicators generally remain within a reasonable range.

Citing growing downward pressure from the slow recovery of the global economy, fluctuations in grain and energy prices and sporadic national resurgences of COVID-19, the meeting called for efforts to coordinate the fight against the epidemic with economic and social development.

The country needs to ensure overall employment and price stability to achieve its goal of keeping major economic indicators within an appropriate range, the meeting said. He also said efforts should be made to keep logistics and industrial and supply chains functioning smoothly, safeguard food and energy security, and ensure job creation by supporting market entities.

The meeting urged relevant authorities to actively implement existing policies while introducing timely measures to stabilize market expectations in light of changing circumstances.

Noting that some market entities have been hit hard by the outbreak, the meeting stressed the need to step up efforts to help struggling businesses and meet the country’s basic employment target.

The policy that allows the deferral of pension insurance payments will be implemented during the second quarter of 2022 to address the acute difficulties faced by sectors such as food services, retail, tourism, l aviation and transport, the meeting said.

He also stressed the importance of efforts to appropriately and flexibly use a variety of monetary policy instruments such as lending again to increase support for the real economy.

The country will forcefully implement its prudent monetary policy to maintain reasonably adequate liquidity, explore and adopt financial measures to support consumption and efficient investment, and support financing in key areas and for weak links, noted. the meeting.
Source: Xinhua

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