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Premier says economy going in positive direction, but uncertainties on the rise China will extend more support to micro and small enterprises and
self-employed individuals to help them overcome difficulties and grow
their business, the State Council's executive meeting chaired by Premier
Li Keqiang decided on Wednesday. By the end of April, the country had over 44 million MSEs and more
than 95 million self-employed individuals, and they have become the
country's primary source of employment. "Overall, the economy is going in a positive direction this year, yet
uncertainties are on the rise. … Support should be kept up as needed,"
Li said. Inclusive finance in support of MSEs and self-employed individuals
will be enhanced. Financial institutions will be encouraged to expand
credit loans, first-time loans, medium- and long-term loans and loan
renewals without principal repayment, and to promote the pay-as-you-go
lending model. A number of measures will be taken to help MSEs and self-employed
individuals cope with the price rally of raw materials in upstream
industries. Market-oriented approaches will be applied to guide upstream
and downstream links of supply chains to maintain the stability of raw
material supplies and coordinate production and sales, thus ensuring
supply and price stability. Action will be taken against irregularities
such as hoarding and price gouging. "Recent years have seen the unprecedented expansion of MSEs and self-employment," Li said. He added that policy measures aiming to provide protection need to be further implemented for these market players. "As many people, including college graduates, change their mindset
and choose flexible employment nowadays, the government needs to set up
platforms and provide them with support," Li said. Backstop measures will be taken to meet basic living needs. Efforts
will be made toward covering self-employed individuals and flexibly
employed people with social insurance programs, and household
registration restrictions will be lifted to allow workers to enroll in
programs where they work. Trials will be made to include flexibly
employed people in workplace safety insurance. "We must recognize that most MSEs and self-employed individuals are
still at a disadvantage in market competition. Hence, the policy support
must not stop, but should be kept up as needed. Policies for tax and
fee cuts will be earnestly implemented," Li said. "We need to promote fair competition through impartial regulation.
Unfair competition, once spotted, must be resolutely dealt with. This is
to foster a more enabling environment for market entities to grow.
Meanwhile, the government should also provide protection that helps to
meet their essential needs."
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