Chinese premier stresses precise, effective macro-control policies to spur vitality

Chinese Premier Li Keqiang has underscored the importance of precise and effective macro-control policies to address the development needs of market entities and further spur their vitality and social creativity.

Li, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks Thursday while presiding over a symposium attended by experts, scholars and entrepreneurs.

The symposium solicited opinions on a draft government work report and the draft 14th Five-Year Plan (2021-2025) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035.

Vice-Premier Han Zheng, also a member of the Standing Committee of the Political Bureau of the CPC Central Committee, attended the meeting.

China made major strategic achievements in COVID-19 prevention and control and its economy recorded growth last year against a backdrop of global economic recession, said Li.

Noting that COVID-19 continues to spread globally and the world economy is undergoing profound adjustment, Li said the risks and challenges facing China's economy should not be underestimated.

He called for efforts to ensure that the economy runs within an appropriate range, and for greater steps to promote high-quality development.

Li urged maintaining the continuity, stability and sustainability of macro policies, along with necessary and reasonable fiscal and monetary policies.

He stressed supporting enterprises, especially medium, small, and micro-sized businesses to overcome difficulties and enhance their development capabilities, stabilizing market expectations, and promoting stable operation as well as the sustained and healthy development of the economy.

The premier underscored continued efforts to streamline administration and delegate powers, improve regulation and upgrade services, and optimize the business environment.

He also called for boosting scientific and technological innovation, utilizing new technologies such as the industrial internet to promote the upgrading of traditional industries, and expanding high-level opening-up.