Beijing, June 18 (Xinhua) - The Chinese policy package destined to return to the economy is beginning to bear fruit and helping a gradual recovery in the growth impulse , while the authorities and analysts request continuous support to counteract economic head winds.

The latest official data pointed to the increase in key economic indicators such as foreign trade, industrial production and retail sales in May, after the government launched policies Intensive in favor of growth and the general situation of the epidemic improved.

"With the COVID-19 impact with thin and thin economic indicators showed marginal improvements in May," said Meng Wei, spokesman for the National Development and Reform Commission, pointing out that recovery both on the supply side and in demand still face many challenges.

Considering the current situation as a key point to determine the economic tendency of Whol and Year, Meng said that the commission will not save any effort to promote the implementation of preferential policies for Eliminate bottlenecks that restrict economic circulation.

In May, China exports jumped 15.3 percent better than expected year after year, while industrial production grew 0.7 percent compared to the previous year , bouncing a 2.9 percent decrease in April. Retail sales fell 6.7 percent year after year, compared to the 11.1 percent decrease in April, according to official data.

The positive change occurred after a series of actions taken by several levels of government since May.

The State Council presented 33 measures to stabilize the economy last month, covering investment, consumption, food, industrial, industrial security policies and supply chains , as well as the livelihoods of people.

Tax reimbursements and fees were introduced, the social security contribution payments were differentiated and industrial and supply chains were noted. Infrastructure spending has accelerated to increase investment.

Local governments quickly responded by developing specific movements in the region, ranging from granting consumption coupons to facilitating restrictions on the purchase of real estate and subsidy of vulnerable companies , to reduce the impacts induced by COVID in the economy to a minimum.

"The series of proposed policies is extensive, relevant and fast," said Wang Yifeng, an Everbright Securities analyst.

Shanghai, once beaten by the virus, launched an action plan to expand the subsidies for the prevention and epidemic disinfection of companies and reduce, property tax and tax on the use of urban land for qualified companies, among other measures.

" Prepare enough basic products, "said Li Zheren, who is in charge of the company's financial affairs.

Shanghai's policies provided companies time Local policies must reflect the characteristics of different regions and be attacked.

Beijing decided to reduce the purchase tax of the passenger cars with an exclusive VAT price of no more than 300,000 yuan (approximately 44,827.6 US dollars) and an engine of 2.0 liters or less that are bought between June 1 and December 31 of this year to relive mass consumption.

Hainan Province, which strives to become the largest free trade port in the country, awarded 20 million yuan coupons to boost tax -free purchases at high seas and more than 100 miles

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