"The first quarter of 2020 was extremely unusual," a statement issued after the meeting said, noting that the sudden COVID-19 outbreak had an uNPRecedented impact on China's economic and social development.
China's economy has demonstrated great resilience, the statement said, adding that work and production are gradually getting back to normal levels, with the rapid development of many new industries and businesses amid the epidemic.
The meeting underlined upholding the underlying principle of pursuing progress while ensuring stability.
Efforts must be made to ensure that the epidemic will not rebound while steadying the economic fundamentals and securing people's basic livelihood.
In this regard, the country will have to take the initiative to advance work resumption at all fronts with regular COVID-19 epidemic prevention and control measures in place and fight the epidemic persistently in a bid to bring the economic and social activities completely back to normal, according to the meeting.
The meeting noted that China will use stronger macro policy tools to cushion the epidemic fallout.
It called for more proactive fiscal measures such as issuing special government bonds to support the virus fight and increasing the issuance of local government bonds as well as raising the utilization efficiency of capital to help stabilize the economy.
Monetary policies should be more flexible and balanced and instruments such as reserve requirement ratio cuts, interest rate reductions and reloans should be fully leveraged to ensure reasonable and sufficient liquidity and a lower interest rate in the loan market, the meeting said, stressing the need to channel capital into the real economy, especially medium-sized, small and micro enterprises.
【国内英语资讯:Xi Focus: Xi chairs leadership meeting on regular epidemic control, economic work】相关文章:
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