China will take a raft of policy measures to secure foreign trade orders and upgrade its trading structure, according to decisions made at the State Council Executive Meeting chaired by Premier Li Qiang on Friday.
Attendees noted the key underpinning role of stable foreign trade in ensuring steady growth and job security, building a new development paradigm and pursuing high-quality growth.
Those at the meeting called for sustained efforts to effectively implement a set of targeted policies aimed at ensuring the stable performance of foreign trade, and continuously adjust and fine-tune relevant policies in a bid to help enterprises secure orders and explore market opportunities.
They stressed that every possible means will be employed to stabilize exports to developed economies. Enterprises will be guided to further explore markets of developing countries, as well as regions including Southeast Asia.
Attendees said that the leading role of provincial-level regions with fairly large foreign trade activity will be better leveraged. Localities will be encouraged to roll out supportive policies in ways that best suit local conditions to enhance policy synergy.
It was stressed at the meeting that now is a crucial time for economic recovery. In addition to in-depth research and studies, concrete steps will be taken to monitor economic operations, analyze the state of the economy and explore countermeasures.
Pragmatic and effective policy measures will be introduced whenever and wherever needed to further anchor market expectations, shore up confidence for future development, consolidate and expand growth momentum and promote overall improvement in economic performance on an ongoing basis.
Attendees at the Friday meeting also decided on policy steps to further alleviate burdens facing financially strapped college graduates.
It was agreed at the meeting that interest payments on government-subsidized student loans will be waived for those who are due to graduate this year or have already graduated, and extensions of principal repayments for these loans will be extended for another year. No punitive interest payments or compound interest will be collected on loan deferrals.
As college graduates enter a critical stage for landing jobs, relevant policy measures to keep employment stable will be continuously improved. Greater policy and fund support will be channeled to enterprises that hire college graduates in large numbers, according to the meeting.
The meeting decided that more college graduates will be encouraged to provide community-level services by serving as teachers, agricultural technicians, medical staff and poverty relief workers in townships, to boost job creation through multiple channels.