Xinhua and the CCTV (October 27) both reported that Premier Li Keqiang of the State Council
chaired an executive meeting of the State Council on October 26, on the continuous implementation of a package of policies and follow-up measures to stabilise the economy, and
promoting further stabilisation of the economy; listen to fiscal and financial policy tools to
support the construction of major projects and Report on equipment renewal and
transformation, and decide and accelerate the release of the policy effect of expanding
consumption; require in-depth implementation of incremental tax credits in the manufacturing
industry that will be refunded immediately after application, and support the bailout and
development of enterprises. The meeting decided on "One point for deployment, nine points
for implementation" and instructed all departments to perform their duties diligently and
implement them and do a good job in economic and social development. Xinhua and CCTV
quoted Li Keqiang as saying that "since April this year, we have implemented the deployment
of the Party Central Committee and the State Council, responded to the impact of unexpected
factors, implemented the policies determined by the Central Economic Work Conference and
the "Government Work Report" ahead of schedule, and promptly and decisively launched a
package of policies and follow-up measures to stabilise the economy. The economic downturn
in the early stage of the second quarter was reversed in time. The current economic stabilisation
and upward trend is extremely difficult, and it is also a key window period for expanding the
stabilisation and upward trend. It is necessary to continue to release the effects of policies
through implementation, stabilise employment and prices, strive to promote the economy in
the fourth quarter to be better than the third quarter, and keep the economy operating within a
reasonable range".
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