"The special transfer payment mechanism has delivered notable outcomes, showing the decision is right, and the intensity appropriate," Li said.
Going forward, the prefectures and counties will be guided to promptly channel the allocated funds to market players and people's livelihood. Steps will be taken to redress any tardiness in fund allocation or utilization.
The allocation, disbursement and use of funds will be tracked on a regular basis. A special treasury account reconciliation mechanism will be set up for the directly funneled funds, to ensure clear bookkeeping, detailed usage, and matching accounts.
Rigorous fiscal discipline must be enforced. Any fraudulent reporting, false claims, retention and embezzlement of the funds will be strictly dealt with. The meeting urged making the macro policies more targeted and effective and create a more enabling environment to help market entities survive and thrive. It called for intensifying reform, firming up confidence for development, and taking concrete steps to fulfill this year's targets and tasks for economic and social development.
"With full awareness of various uncertainties, we must press ahead with all the reform and opening-up measures and make solid efforts to run our own affairs well. We must see that the policies introduced are delivered to the full extent, and also develop policy reserves for the coming year," Li said.
The meeting also took stock of the policy measures taken by financial departments in support of the real economy. In keeping with commercial rules, a host of measures have been adopted, including interest rate and fee cuts and deferred loan repayment in principal and interest. In the first seven months this year, these measures saved businesses over 870 billion yuan, and support for micro and small enterprises has been significantly enhanced.
【国内英语资讯:Chinas increased fiscal funds to directly benefit businesses and the people】相关文章:
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