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China - State Council has economic meeting to support private investment, expand investment - June 15, 2022

sharon sanders

Editor-in-Chief & President
National Standing Committee: Use market-based reform measures to stimulate the vitality of private investment


2022-06-16 07:08

  Original title: National regular meeting: Use market-based reform measures to stimulate the vitality of private investment
  Deploy measures to support private investment and promote multi-purpose projects; determine phased deferral of payment to medical insurance units for employees of small, medium and micro enterprises
  According to Xinhua News Agency
  Premier Li Keqiang of the State Council chaired an executive meeting of the State Council on June 15, deploying measures to support private investment and promote multi-pronged projects, so as to better expand effective investment, drive consumption and employment; determine the phased deferral of payment to medical insurance units for employees of small, medium and micro enterprises. Strengthen support for bailouts and job stabilization; it is decided to carry out special rectification of illegal charges related to enterprises, and to deploy deferred payment of administrative charges.
  The meeting pointed out that it is necessary to implement the deployment of the Party Central Committee and the State Council, follow the overall thinking and policy orientation of the Central Economic Work Conference and the "Government Work Report", base on the current steady growth, and focus on promoting sustainable and healthy economic development in the long run. Seize the time window, focus on range control, not only resolutely intensify efforts to stabilize economic policies, but also do not over-issue money or overdraft the future, focus on ensuring market entities, employment, stable prices, and the macroeconomic market.
  The meeting pointed out that to expand effective investment, it is necessary to focus on launching multi-purpose projects that can not only make up for shortcomings and adjust structure, but also drive consumption and expand employment, so as to mobilize the enthusiasm of all parties. Private investment accounts for more than half of the total social investment. We must adhere to the "two unswervingly", increase policy support, and use market methods and reform measures to stimulate the vitality of private investment. First, in the 102 major projects in the 14th Five-Year Plan and the key construction areas specified by the state, a group of demonstration projects should be selected to attract private capital to participate. Confirmed transportation, water conservancy projects and other projects should be accelerated, and private investment should be treated equally in bidding, and specific measures for cash-for-work should be introduced as soon as possible. Second, we must deepen the reform of "delegating power, regulating services". Improve the efficiency of private investment procedures, include large projects in the local key project database, and strengthen land use and other guarantees. All localities must protect the legitimate rights and interests of private investment and strictly fulfill policy commitments. Support the healthy development of the platform economy and support the development of venture capital by private capital. Third, encourage financial institutions to support private investment through loan renewal and extension. Provide government financing guarantees for eligible projects. Quickly launch real estate investment trust fund projects for private investment. Encourage private enterprises to market debt-to-equity swaps. The meeting emphasized that the underground integrated pipe gallery is a city's "inside" project, with great investment potential and strong driving ability, and it is a representative project that serves multiple purposes with one stone. It is necessary to promote the construction of underground comprehensive pipe corridors in combination with the transformation of the old urban pipe network that has been deployed. Make scientific planning, increase policy support, improve the fee return mechanism, and attract social capital to participate. Guide financial institutions to issue long-term loans, and provide market-oriented credit enhancement support for the issuance of credit bonds by project entities.
  The meeting pointed out that retaining 150 million market players will stabilize employment and maintain the resilience of the Chinese economy. In order to further help enterprises to bail out and stabilize jobs, in eligible areas, small and medium-sized enterprises are allowed to postpone the payment of employee medical insurance units for three months, with a scale of about 150 billion yuan. The implementation of the policy should go directly to the market players, and enjoy it without applying. The deferral of payment will not affect the medical insurance benefits, and the reimbursement ratio and the variety of drugs will be kept stable, so as to ensure that all due reports are reported.
  The meeting decided to carry out special rectification of illegal charges related to enterprises, focusing on the fields of transportation and logistics, water, electricity, heating, finance, local finance, industry associations, chambers of commerce and intermediaries. All localities and departments should conduct self-examination and self-correction from July to September, focusing on rectifying problems such as inadequate implementation of fee reduction policies, illegal charging in the name of epidemic prevention and control, charging of fees that are explicitly cancelled, compulsory bundling, and random inspections and random fines. For self-inspection and self-correction, joint inspections should be carried out in a timely manner, typical problems should be seriously dealt with and exposed, and a long-term supervision mechanism should be established with reform measures. At the same time, all departments must have an overall awareness and the concept of helping each other in the same boat, and systematically sort out the administrative fees and deposits involving enterprises and individual industrial and commercial households in this field. It is necessary to formulate and publish a list of deferred payment, and supervise its implementation in a timely manner.


zhttps://finance.sina.com.cn/china/2022-06-16/doc-imizmscu7054405.shtml
 
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