September 26 2022

China to Adopt 19 follow-up Policies on Top of the Policy Package for Stabilizing the Economy

Premier Li Keqiang chaired a State Council executive meeting on August 24, 2022, deciding to adopt follow-up policies on top of the policy package for stabilizing the economy.

It is noted that an additional 19 follow-up policies will be rolled out on top of delivering the policy package for stabilizing the economy. These policies mainly include increasing the quota of the policy-backed and development-oriented financial instruments by 300-plus billion yuan on the basis of channeling the 300 billion yuan of such instruments to specific projects, unveiling measures to support the development and investment of private businesses and advance the sound and sustained development of the platform economy, deferring payments of government-levied charges for one quarter and encouraging localities to set up risk compensation funds for loans extended to micro, small and medium-sized enterprises and self-employed households, supporting centrally-administrated electricity producers in issuing 200 billion yuan of special bonds for energy supply, and allowing distribution of an additional 10 billion yuan of agricultural supplies subsidies on top of the subsidies delivered this year totaling 30 billion yuan.