Li Keqiang presided over the executive meeting of the State Council
Premier Li Keqiang presided over the executive meeting of the State Council on March 29, requiring detailed measures to reduce compaction responsibilities and resolutely prevent major and major safety accidents; Deploy and make good use of government bonds, expand effective investment, and promote the improvement of weaknesses and the growth of the economy; It is decided to start a number of new water conservancy projects with mature conditions to improve the ability of water resources guarantee and disaster prevention and reduction.
The meeting pointed out that the current international situation is becoming more complex and severe, and the downward pressure on China's economy is increasing. When formulating this year's macro policies, we have taken forward-looking consideration of changes in China's external environment. We should pay close attention to the implementation of the spirit of the central economic work conference and the measures of the government work report, strengthen confidence, stick to the annual development goals, put steady growth in a more prominent position, coordinate steady growth, adjust structure and promote reform, make policies to stabilize the economy come out early and quickly, do not take measures that are not conducive to stabilizing market expectations, and formulate plans to deal with greater uncertainty.
The meeting pointed out that making good use of government bonds and expanding effective investment is an important measure to drive consumption, expand domestic demand and promote steady employment growth. In accordance with the principle of maintaining the basic stability of macro leverage ratio, 3.65 trillion yuan of special bonds of local governments will be added this year. In order to strengthen cyclical regulation, 1.46 trillion yuan was issued in advance according to law at the end of last year. In the next step, first, we should pay close attention to issuing the remaining special bonds and give preference to regions with strong solvency and sufficient reserves for projects. Second, we should give better play to the effectiveness of special debt. Adhere to the principle of benefiting both the present and the long term, increase investment in benefiting people's livelihood and making up for weaknesses, and support the construction of new infrastructure and other projects that will increase their potential. Adhere to the fund following the project, speed up the project commencement and construction, and form the physical workload as soon as possible. Third, we should use reform measures and market methods to give full play to the role of special debt, attract social capital investment and support private enterprise investment. Fourth, we should strengthen fund management and strictly prohibit the illegal construction of buildings, museums and image projects. Fifth, we should make an overall plan to grasp the issuance of national bonds and local bonds and prevent debt risks. Encourage overseas funds to buy treasury bonds and implement tax incentives. The financial system should ensure the orderly issuance of treasury bonds and support project financing.
The meeting pointed out that water conservancy projects are livelihood projects, development projects and safety projects. This year, we will start a number of water conservancy projects that have been included in the plan and have mature conditions, such as the follow-up project of the South-to-North Water Transfer. The annual investment in water conservancy can be about 800 billion yuan.
On the whole, the current national standing committee meeting is to continue to adhere to the macro policy of "stability first and seeking progress while stability", continue to strengthen the promotion, and ensure that the annual economic development goals are achieved on schedule.
The monetary policy committee of the central bank held its regular meeting in the first quarter of 2022
The central bank's Monetary Policy Committee held its 96th regular meeting in the first quarter of 2022 in Beijing recently.
The meeting pointed out that it is necessary to make progress while maintaining stability, strengthen cross cyclical and counter cyclical regulation, strengthen the implementation of prudent monetary policy, enhance foresight, accuracy and autonomy, give full play to the dual functions of the total amount and structure of monetary policy tools, take the initiative to respond, boost confidence, provide stronger support for the real economy and stabilize the macro-economic market. We will further dredge the transmission mechanism of monetary policy, maintain reasonable and sufficient liquidity, enhance the stability of the growth of total credit, keep the growth rate of money supply and social financing basically match the economic growth, and keep the macro leverage basically stable.
