Chinese premier stresses policy package implementation to stabilize economy

Source: Xinhua / Updated: 2022-06-21

Chinese Premier Li Keqiang on Wednesday urged efforts to speed up the implementation of a package of policy measures to stabilize the economy.

Chairing a State Council executive meeting, Li also called for further strengthening assistance and support for people in need and ensuring their basic livelihoods.

The newly added amount of over 140 billion yuan (21 billion U.S. dollars) in value added tax credit refunds should be basically delivered by July, and policy banks will increase the credit line by another 800 billion yuan to provide financial support for infrastructure construction, according to the meeting.

The meeting also underlined implementing measures to support platform firms in going public on domestic and overseas bourses in accordance with relevant laws and regulations, as well as relaxing restrictions on car purchases.

Efforts will be made to ensure the payment of pension benefits to seniors on time and in full, according to the meeting.