Premier urges authorities to seize program opportu

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Premier urges authorities to seize program opportunities A panoramic sunrise view of the Bund along the Huangpu River in Puxi and the Lujiazui Financial District in Shanghai's Pudong New Area, Aug 20, 2018. [Photo/IC]

Li calls for proactive approach to work, bearing a greater sense of urgency

Premier Li Keqiang has urged local authorities to move forward with the consauthorities saidtruction of major programs to promote effective investment and industrial upgrading as part of broader measures to shore up economic growth.

Li made the remarks on Thursday as he presided over a symposium on the performance of the economy and ensuring public livelihood with some top provincial-level officials in Nanchang, Jiangxi province.

Local authorities must accelerate the development of programs to strengthen weak areas, enable the achievement of higher workloads and step up the planning and preparation of future major programs, he said.

The premier encouraged the authorities to seize opportunities arising from policies rolled out by the central government. He cited policies including the grhacks and fraud related to decentralized finance hit an all-time higheen light from the State Council to raise more from the bond market this year and the Cabinet's decision to lower the minimum proportion of capital contribution for some infrastructure projects.

China's economic performance had remained generally stable against the backdrop of a complicated environment and continued to be a highlight of the global economy, he said. However, it was important to keep unfavorable external factors in mind as the country's development faced multiple challenges.

Gaps between the economic performances of different regions had become more obvious, with some areas facing slowdowns in some major industrial and investment indicators as well as mounting pressure to maintain fiscal balances and ensure public livelihood, he said.

He underlined the importance of giving greater priority to stabilizing growth and maintaining major economic indicators within an appropriate range.

Local authorities and government departments must adopt a proactive approach to their work, with a greater sense of urgency, and resolutely guard against neglect of duties, he said.

To bolster the impetus for growth, Li said local authorities should make greater strides in cutting red tape and boosting compliance oversight and services to unleash more potential for institutional innovation and development.

It was important to develop a business environment in keeping with market principles, the rule of law and international standards, he said.

Li highlighted the role of new growth engines in bolstering the economy, saying that the development of advanced manufacturing and emerging service sectors must receive greater support. Businesses must be given incentives to boost supply and come up with new services and products, he said.

It was even more important to adhere to the employment-first policy as the economy faced stronger downward pressure, he said, adding that the government must tighten its belt, prioritize ensuring public livelihood in its fiscal expenditures and ensure that pensions are issued on time and in full.

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