Photo shows the automatic production line of a customized workshop in sports footwear manufacturer SEMS in Putian, southeast China’s Fujian Province, May 8, 2020.Photo:Xinhua
Macroeconomic policy will be maintained in 2021 to benefit all of China’s market entities, though some policies will switch from keeping enterprises afloat in 2020 to sustaining and revitalizing them in 2021, Chinese Premier Li Keqiang said on Thursday as China’s National People’s Congress (NPC) concluded its annual session in Beijing.
China’s market entities, which were shocked by the economic onslaught of the COVID-19 pandemic, have lately witnessed a period of fast recovery since the second half of 2020, the Chinese Premier said. They numbered at 130 million in China as of now.
Focusing on the needs of those market entities was the centerpiece of the central government’s macroeconomic policy last year, said Li.
As such, the macroeconomic policies will continue to be well aligned with addressing such needs, and the focus will be on helping market entities to sustain recovering momentum and revitalizing their businesses to pre-pandemic levels.
During the 13th Five-Year Plan period (2015-20), there were 60 million newly registered enterprises.
The number of self-employed individuals also increased from 80 million to 90 million. They created up to 200 million job opportunities.
The Chinese Premier also promised to lessen the burden on market entities via reforming government functioning and streamlining review and approval procedures, and freeing up more space to help them compete freely on the market.
Meanwhile, Li stressed that China will continue to improve regulation and compliance oversight to ensure market fairness so as to protect market vitality.
While China welcomes new business forms centered on the internet-plus model, it will increase crackdown on cheating, selling fake goods, acting in bad faith and illegal fundraising, as such malpractices will disrupt market order.
China will continue to improve its market-oriented, world-class business climate governed by sound legal framework and expand market access for foreign investors, said Li, noting that the government will further open up the services sector.
Global Times
