More targeted macro policies emphasized

2023-08-01 Editor : Li Yan ECNS App Download

China will enhance countercyclical adjustments, strengthen reserve policies and roll out new measures in a well-timed manner, to keep macro policies more targeted and coordinated, according to decisions made on Monday at a State Council executive meeting chaired by Premier Li Qiang.

The meeting stressed that it is imperative to consolidate the foundation and strength of economic recovery and growth.

Dedicated efforts will be made to spur private investment. Overdue payments owed to enterprises will be addressed without delay, and the arbitrary levy and apportionment of charges resolutely prohibited. Furthermore, the capital market will be better motivated to shore up investor confidence, according to the meeting.

The meeting also called for efforts to nurture and strengthen strategic emerging industries, and foster new pillar industries, in order to boost the country's competitiveness and influence in global industrial and supply chains.

Policy steps that are conducive to the stable and sound growth of the real estate market will be introduced, should city-specific needs require them. Furthermore, a new development model for the real estate sector will be explored at a faster pace, according to the meeting.

The meeting noted that a high premium will be placed on employment, and policies to promote job creation and business startups will be fine-tuned.

The meeting also highlighted the follow-up arrangements for provisional support policies, which are due to expire this year or next, in a bid to sustain businesses' expectations, boost their confidence and facilitate their long-term investment and operation plans.

Noting that such policy arrangements involve a wide range of sectors and cover a long period of time, the meeting urged greater efforts to enhance policy communication and interpretation, and fully advance policy implementation.

The meeting also granted approval to six new nuclear power units in Ningde, Fujian province; Shidaowan, Shandong province; and Xudapu, Liaoning province.

The meeting stressed that security is the lifeline of nuclear power development, and that it is crucial to put security and quality first. The construction of new nuclear power units must meet the world's highest security requirements, and renovation of existing ones should keep abreast of the latest safety standards.

Tighter security supervision at all stages from beginning to end will be enforced, and localization of core technologies in key fields promoted, to ensure that nuclear power units are completely safe and reliable, the meeting said.

China General Nuclear Power Group said in a statement on Monday that the two new nuclear power units in Ningde, as well as the two in Shidaowan, will employ Hualong One, a domestically designed, third-generation nuclear reactor.


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