Chinese premier stresses giving full play to policy effects to stabilize economy

BEIJING -- Chinese Premier Li Keqiang on Wednesday urged efforts to give full play to policy effects to keep growth, market entities and employment stable.

Chairing a State Council executive meeting, Li also pledged measures to further stabilize foreign trade and investment and promote opening-up of the country.

At the meeting, Li listened to a report on the special inspection of the delivery of policies aimed at stabilizing growth, market entities and employment, and called for removing obstacles and improving supporting measures to fully leverage policy effects.

The meeting noted that market confidence in the country has increased after measures were introduced at local levels, but stressed that downward pressure on the economy still remains prominent.

To ensure reasonable growth for the second quarter and stabilize the broader economy, efforts should be made to effectively coordinate epidemic control and economic and social development, further flesh out and implement policies with a sense of urgency, and unleash more policy effects, the meeting said.

Local governments and related departments should rectify problems found during the inspection as soon as possible and deliver policies in light of local realities, the meeting said.

It also urged steps to further flesh out policy measures and improve local policies based on the advice of inspection teams.

To further stabilize foreign trade and investment and expand opening-up, Li underscored implementing policies that have been rolled out and ratcheting up support with measures to solve foreign firms' difficulties in resuming production and constructing projects.

More should be done to increase tax-refund support for export companies and expand high-quality products import, enhance port services including transshipment and customs clearance, and keep international industrial and supply chains stable, the meeting noted.

China will make continued efforts to attract foreign investment and create a market-oriented, law-based and internationalized business environment, according to the meeting.