Weekly policy snapshot of Chinese economy

Source: Xinhua| 2019-04-20 10:57:17|Editor: Liangyu
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BEIJING, April 20 (Xinhua) -- The following are the key moves taken by policymakers in the past week to enhance China's economic strength and sustainability:

-- More policy coordination to maintain growth, forestall risks

China's central bank said Monday that it would strengthen coordination between monetary, fiscal and other policies to keep growth stable and forestall risks.

The People's Bank of China will continue its counter-cyclical adjustments while making monetary policy forward-looking and fine-tuned, it said in a statement issued after a quarterly meeting of the monetary policy committee.

Monetary policy should be "neither too loose nor too tight," while liquidity will be kept at a reasonable and ample level, it said.

-- Improving financing for small and micro-sized businesses

The State Council, China's cabinet, on Wednesday unveiled new measures to enhance financing support for private firms as well as small and micro-sized businesses.

Work should be done to ensure increasing financing at lower costs for small and micro-sized businesses, expand employment and spur new growth momentum, according to a statement released after a State Council executive meeting.

-- Expanding mixed ownership reform of state-owned enterprises (SOEs)

China is screening the fourth batch of pilot SOEs for mixed ownership reform, an official from the country's economic planner said Thursday. Over 100 SOEs will be included in the fourth batch.

"The keynote for this batch is scale and field expansion, given that the previous three batches centered merely on a few key areas and a handful of companies," according to Yuan Da, spokesperson of the National Development and Reform Commission.

-- Deepening supply-side structural reform

A meeting of the Political Bureau of the Communist Party of China Central Committee on Friday stressed the need to consolidate general economic and social stability through new progress in reform and opening-up as well as structural adjustment.

The supply-side structural reform should be pushed to stabilize demand, while efforts on structural deleveraging should be maintained, so that major risks are prevented and tackled in the process of pursuing high-quality development, said a statement released after the meeting, which noted that efforts should be made to win the "three tough battles" against major risks, poverty and pollution.