Govt vows action on virus impact
Print Edition
China will take more coordinated and targeted measures to stabilize the country’s economic and social development against the headwinds from the outbreak of the novel coronavirus disease.
More targeted measures will be rolled out to keep employment, finance, foreign trade and other major aspects of the economy stable, according to a State Council executive meeting chaired by Premier Li Keqiang yesterday.
The policy coordination among macro adjustment, foreign trade and investment, and financial stability should be enhanced to add internal impetus and ensure the economy operates within a reasonable range the whole year, the meeting said.
Li emphasized the significance of sectors including transportation, express delivery and logistics.
“Promoting the resumption of work and production of enterprises in logistics, transportation and express delivery industries cannot only provide strong support for the work of epidemic prevention and control, but also can facilitate economic circulation and meet people’s livelihood needs,” said a meeting statement.
The meeting also called for further efforts to cut fees and taxes, for example, reducing service fees for government airports.
Insurers are encouraged to reduce or waive fees for motor vehicles, boats and planes that have been forced out of service due to the epidemic. Different localities are also encouraged to adopt effective measures to help taxi drivers. The government is also considering exempting fees on toll roads.
Local governments will enjoy stronger fiscal support, including retaining a bigger proportion of money after turning in a specific share of fiscal revenue to the central government, and faster allotment of transfer payments. General expenditures will be slashed further.
The meeting said from March 1 to end-June, the central government has set aside an additional 110 billion yuan (US$15.8 billion) for governments at the county level to guarantee people’s livelihoods.
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