Chinese premier stresses policy continuity to spur vitality, promote economic recovery

Chinese Premier Li Keqiang has underscored policy continuity, effectiveness and sustainability to spur greater vitality among market entities, promote stable economic recovery and sustained growth, as well as constantly improve people's livelihoods.

Chinese Premier Li Keqiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, presides over a symposium on the economic situation via video link attended by local government officials, in Beijing, capital of China, Nov. 20, 2020. Chinese Vice Premier Han Zheng, also a member of the Standing Committee of the Political Bureau of the CPC Central Committee, attended the symposium. [Photo/Xinhua]

Li made the remarks via video link as he presided over a symposium on the economic situation that was attended by local government officials on Friday.

Vice Premier Han Zheng attended the symposium.

Leading government officials from the provinces of Heilongjiang, Shandong, Hunan, Guangdong and Yunnan reported on local economic situations and made suggestions for policy making.

China has made major strategic achievements in COVID-19 prevention and control and its economy has recorded positive growth relatively quickly, thanks to the concerted efforts from both higher and lower levels, and state policies that are timely and effective, Li said.

He called for efforts to implement the spirit of the fifth plenary session of the 19th Central Committee of the Communist Party of China, apply new development philosophies, promote high-quality development and forge new development paradigm to ensure stable economic development and improve people's livelihoods.

Li urged efforts to maintain the continuity, effectiveness and sustainability of policies, keep the policy focus on market entities and people's livelihoods, as well as stabilizing employment and increasing domestic demand.

The policy prioritizing employment should be strengthened and efforts should be made to create more job opportunities, he said.

Li also called on governments to optimize polices in a timely manner, based on the needs of market entities and changing circumstances, while stabilizing market expectations, and taking targeted measures to help market entities overcome difficulties and improve people's livelihoods.

Local governments are encouraged to introduce measures to inject more vitality and impetus into the market, creating a better environment that invigorates existing market entities and fosters new ones, Li said.

The premier also called for efforts to promote high-level opening-up, and continue efforts to maintain the stability of foreign trade and investment, as well as the industrial and supply chains.

The country should also leverage the recently signed Regional Comprehensive Economic Partnership, make good use of relevant rules and facilitation measures, and actively explore new areas of international cooperation, he said.