Fri, 04 Dec 2020

Weekly policy snapshot of Chinese economy

Xinhua
25 Oct 2020, 14:30 GMT+10

BEIJING, Oct. 25 (Xinhua) -- China's policymakers have rolled out a raft of measures over the past week to boost economic growth and mitigate the impacts of the COVID-19 epidemic.

The following are the latest policies taken during the period:

-- Chinese Premier Li Keqiang on Oct. 21 called for further efforts to implement the mechanism that ensures the fiscal funds would directly benefit businesses and people and give full play to the country's proactive fiscal policies.

Li made the remarks while presiding over an executive meeting of the State Council.

China should maintain the continuity of macro policies, continue to advance the implementation of the mechanism, and improve the efficiency of fund usage, Li said.

-- Chinese Vice Premier Hu Chunhua on Oct. 20 stressed finishing final preparations for the third China International Import Expo (CIIE) with high quality while carrying out effective COVID-19 prevention and control measures.

The third CIIE will take place in Shanghai from Nov. 5 to 10.

-- Chinese Vice Premier Han Zheng on Oct. 21 called for efforts to improve the business environment during a meeting on transforming government functions and deepening reforms to streamline administration, delegate power and improve regulation and services.

The transformation and reforms should always aim at the goal of giving full play to the decisive role of the market in resource allocation and letting the government play its role better, said Han.

-- The Ministry of Commerce promised to further improve the country's export control list and release it in due course.

Export control is a common international practice in which a country prohibits or restricts the export of specific items, Gao Feng, spokesperson for the ministry, told an online press briefing on Oct. 22.

His remarks came after China's top legislature on Oct. 17 passed a law on export control, which would go into effect on December 1.

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