At 9 am on May 22, the third meeting of the 13th National People's Congress held an opening meeting in the Great Hall of the People. Premier Li Keqiang of the State Council made a government work report.
Li Keqiang: Active fiscal policy should be more active and promising. This year's deficit rate is planned to be set at more than 3.6%. The fiscal deficit scale will increase by 1 trillion yuan compared with last year. At the same time, 1 trillion yuan of special anti-epidemic government bonds will be issued. This is a special move in a special period. All the above 2 trillion yuan will be transferred to localities, and a special transfer payment mechanism will be established. Funds will reach the grassroots of the city and counties directly to benefit enterprises and the people. They are mainly used to protect employment, basic people's livelihood, and market participants, including support for tax and fee reductions. Rent and interest rate reduction, expansion of consumption and investment, etc., strengthen the public financial attributes, and never allow interception and misappropriation. It is necessary to vigorously optimize the structure of fiscal expenditures. Basic livelihood expenditures only increase but not decrease. Expenditure in key areas must be effectively guaranteed. General expenditures must be firmly reduced. It is strictly forbidden to build new buildings and halls, and to prohibit extravagance and waste. Governments at all levels must really live their lives tightly, and the central government should take the lead. The central government ’s expenditure arrangements at the current level have a negative growth, and non-rigid expenditures that are not urgently needed are more than 50% reduced. All kinds of balances and settling funds should be collected and rearranged. To vigorously improve quality and increase efficiency, all expenditures must be carefully planned, every money must be spent on the edge of the knife, and it must be the most important place, and the market subjects and the people must have a real feeling.
Li Keqiang: Prudent monetary policy should be more flexible and appropriate. The comprehensive use of means such as quasi-rate reduction, interest rate reduction and refinancing will guide the broad money supply and the scale of social financing to grow significantly higher than last year. Keep the RMB exchange rate basically stable at a reasonable and balanced level. To innovate monetary policy tools that directly reach the real economy, it is imperative to promote enterprises to facilitate access to loans, and promote continued downward interest rates.
Li Keqiang: Employment priority policy should be comprehensively strengthened. Fiscal, monetary, and investment policies must work together to support stable employment. Efforts should be made to stabilize existing employment, actively increase new employment, and promote the reemployment of the unemployed. All localities should clean up and remove unreasonable restrictions on employment, promote employment measures and make full use of measures to expand positions.
(Organized according to the webcast text)