Chinese premier urges efforts to consolidate economic recovery

Chinese Premier Li Keqiang, 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 attended by economists and entrepreneurs in Beijing, capital of China, Nov. 16, 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. (Xinhua/Gao Jie)

Chinese Premier Li Keqiang has called for more effective and sustainable policies to promote steady economic recovery.

Li made the remarks while presiding over a symposium on the economic situation attended by economists and entrepreneurs on Monday.

Noting that the country has made hard-won economic achievements this year despite many difficulties, Li urged regular prevention and control of the COVID-19 epidemic with targeted measures and stressed efforts to consolidate the upward momentum of economic recovery.

Vice Premier Han Zheng attended the symposium.

The economists and entrepreneurs in attendance spoke highly of the effect of tax and fee cuts on easing the difficulties faced by the real economy, especially on micro, small and medium-sized enterprises. They also offered suggestions on the country's macro policies and measures to support innovation and supply chain development.

More targeted policies should be rolled out to support market entities, especially to the smaller firms and individual businesses, to ensure people's livelihood, Li said.

He called on firms to adapt to the upgrades in economic structures and consumption to provide higher-end products and services while making their products more cost-effective to meet county-level demands.

Li stressed the need to focus on the key role of targeted investment, mobilize the entire society to actively participate in it and implement a number of major projects related to the people's well-being.

The country will boost high-level opening-up and take the newly-signed Regional Comprehensive Economic Partnership (RCEP) agreement as an opportunity to jointly promote the construction of the world's largest free trade area. It will also safeguard the multilateral trading system and clear the path of free trade, Li said, urging relevant departments to follow up on the implementation of the RCEP agreement.