China’s State Council Executive Meeting was held on July 31, 2023, with Premier Li Keqiang presiding. During the meeting, the attendees focused on studying and implementing the important speech by General Secretary Xi Jinping concerning the current economic situation and economic work. They also discussed the follow-up arrangements for expiring phased policies.
In the meeting, three nuclear power projects were approved, namely, the Shidao Bay Nuclear Power Project in Shandong, the Ningde Nuclear Power Project in Fujian, and the Xudapu Nuclear Power Project in Liaoning.
Another topic of discussion was the decision on extending the authorization for the State Council to conduct a pilot program enabling Hong Kong legal practitioners and Macao lawyers to obtain qualifications to practice law and engage in legal work in the nine mainland cities of the Guangdong-Hong Kong-Macao Greater Bay Area. The decision’s draft was reviewed during the meeting.
The meeting emphasized the importance of comprehending General Secretary Xi Jinping’s scientific judgment on the economic situation. Participants were urged to unify their thinking, strengthen confidence, and effectively implement the decisions and deployments of the Party Central Committee. The focus was on stabilizing the fundamentals and promoting sustained economic recovery. The meeting also emphasized the need to study and implement counter-cyclical adjustments and policy reserves, with a focus on introducing new policy measures that better reflect the targeted, coordinated, and synergistic aspects of macro policies.
Encouraging private investment was prioritized, and efforts to resolve issues such as arrears of corporate accounts were accelerated. There was also a call to tackle irregular fees, fines, and arbitrary assessments. The capital market was encouraged to invigorate investor confidence.
The cultivation and growth of strategic emerging industries were accelerated, with an emphasis on developing new pillar industries to enhance China’s competitiveness and influence in the global industrial supply chain.
Real estate policies were to be adjusted and optimized to introduce measures that promote stable and healthy development based on different needs and city-specific conditions. Research into new development models for the real estate industry was to be expedited.
The meeting highlighted the importance of employment work, and policies for employment and entrepreneurship were to be integrated and optimized to explore areas of employment growth.
Overall, the meeting emphasized a strong sense of responsibility and a proactive, coordinated, and efficient approach to implementing decisions, ensuring that high-quality development continues to achieve new results.
Regarding the expiring phased policies, the meeting stressed the significance of providing follow-up arrangements for stability, confidence-boosting, and well-arranged investment and operations for enterprises. The continuation of these policies covers various areas and has a broad scope, and the implementation is crucial. Therefore, comprehensive efforts are to be made to promote and communicate these policies effectively.
During the discussion on nuclear power projects, safety was highlighted as the top priority. The construction of new units was to adhere to the highest global safety requirements, while existing units were to undergo improvements based on the latest safety standards. Comprehensive supervision of safety along the entire chain and in all domains was to be strengthened, and the level of localization of critical core technologies was to be enhanced to ensure absolute safety.
The meeting concluded with the discussion of other matters on the agenda.
https://www.gov.cn/yaowen/liebiao/202307/content_6895754.htm