Relief policies to cushion COVID-19 impact implemented: Chinese premier

Xinhua News Agency | Sep 15, 2020 at 5:39 PM

BEIJING, Sept. 15 (Xinhua) -- Chinese Premier Li Keqiang on Tuesday said every effort has been made to make sure that relief policies to cushion the impact of COVID-19 are implemented as soon as possible.

Li made the remarks when addressing the Special Virtual Dialogue with Global Business Leaders hosted by the World Economic Forum, attended by more than 500 business leaders.

The Chinese government has refined macro-policy implementation to increase efficiency and precision, Li said.

"As a result, the two trillion yuan (about 293 billion U.S. dollars) of increased fiscal funds have been funneled directly to prefecture- and county-level governments within just a week, making up for the bulk of the funding shortfalls faced by primary-level governments due to tax and fee cuts," said the Chinese premier.

Such speed has been applauded as unprecedented at the primary level and the funding has buttressed local efforts to support jobs, livelihood and businesses in a most timely fashion, Li noted.