Chinese premier Li Keqiang has chaired an executive meeting of China’s State Council at which it was decided to deploy a package of policies and measures aimed at accelerating efforts to stabilize economic development.
For instance, there will be RMB 140 billion ($21.0 billion) for preferential rebates for VAT credits, with refunds being completed by the end of July this year. Moreover, China will issue loans worth RMB 800 billion ($120 billion) to support infrastructure construction. At the same time, the government will be fully prepared to promote the resumption of work and production, identifying bottlenecks, and strengthening peer-to-peer support for key enterprises.