Focus of govt work consolidating recovery

In a recent meeting on the economy, the central authorities pointed out that economic operations are facing some prominent contradictions and problems at present. They urged governments at all levels to maintain strategic concentration and focus on doing their own things well.

In the second half of the year, the central government must consolidate the positive trend of economic recovery, strive to stabilize employment and prices, maintain economic operation within a reasonable range, and strive to achieve the best results.

Macro policies should play an active role in expanding demand, and fiscal and monetary policies can effectively make up for the lack of social demand, which is the key to consolidating the positive trend of economic recovery.

Monetary policy should maintain reasonable and sufficient liquidity, increase credit support for enterprises, and make good use of new credit from policy banks and infrastructure construction investment funds.

The country should defend the bottom line of food security and energy security, and accelerate the forming of a new energy supply system, which will help to further expand new energy investment.

Local governments should be encouraged to issue special bonds to supplement the capital of small and medium-sized banks, further promote the reform of rural credit cooperatives, promote the implementation of supporting policies and measures for the disposal of non-performing loans of small and medium-sized banks, and act to prevent and resolve major risks so they don’t become systemic risks.

The country should take reform and opening-up as the driving force for economic development. The authorities should continue to promote the standardized, healthy and sustainable development of the platform economy and implement normalized supervision of the platform economy, which should be able to stimulate more private investment, create more jobs and enhance market vitality.

Keeping the economy running within a reasonable range is an important requirement of economic work, but governments at various levels still need to strive to achieve the best results. This requires stronger initiative.

The major provincial-level regions should bravely take the lead, give full play to the initiative of enterprises and entrepreneurs, and create a good policy and institutional environment, so that State-owned enterprises dare to do business, private enterprises dare to venture and foreign enterprises dare to invest.