Ten measures to expand the domestic demand
[2009-01-08 11:25:05]
Ten measures to expand the domestic demand
Premier Wen Jiabao presided over an executive meeting of the State Council on 5, in which the ten measures to further expand the domestic demand and boost the economic growth was confirmed. It was decided in the meeting that that 100 billion RMB of investment from the central government shall be increased in Q4 this year to accelerate the construction progress. There will be 20 billion RMB allocated as the reconstruction fund for the disaster-hit areas to boost the local investment and investment from all walks of life, which shall be 400 billion RMB. The ten measures to expand the domestic demand and boost the economic growth are as follows:
Firstly, to accelerate the construction of housing projects for low-income urban residents. To enhance the construction of low-rent houses, fasten the reform of shanty town, implement the settlement project for nomads, and have more pilot areas for the reform of dangerous houses in the rural area.
Secondly, to fasten the infrastructure construction in the rural area, enhance the construction of biogas, drinking water projects and roads in the rural area, improve the power grid in the rural area, fasten the construction of key water resource projects, such as the South-to-North Water Diversion Project, and the stabilization of dangerous reservoirs, enhance the water-saving reform in large-scaled irrigated areas, and enhance poverty-alleviation.
Thirdly, to fasten the construction of key infrastructure such as railways, roads, and airports. To construct a batch of passenger transport lines, coal transport routes and trunk railroads in the west, improve the expressway network, arrange the construction of major and minor airports in middle and west China, and fasten the reconstruction of urban power grid.
Fourthly, to fasten the development of medical, health, culture and education services. To enhance the construction of grass-root medical and health service system, fasten the reconstruction of school houses in junior high schools in the rural area of middle and west China, and boost the construction of special schools and cultural stations at the township level in middle and west China.
Fifthly, to enhance the construction of the ecological environment. To fasten the construction of sewage and garbage disposal facilities and the prevention of water pollution in key river basins; to enhance the construction of key shelter forest and natural forest resources; to support the energy-saving and emission-cutting projects.
Sixthly, to boost the independent innovation and structural readjustment. To support the construction of high-tech industrialization and industrial progress; to support the development of service industries.
Seventhly, to fasten the reconstruction of the quake-hit area.
Eighthly, to improve the income of urban and rural residents. To increase the minimum purchase prices of foodstuff, the standards of several subsidies including the direct subsidy and subsidy to high-quality seeds and agricultural implements, and increase the income of farmers. To upgrade the treatment to the beneficiaries of social insurance such as low-income people, increase the grants to low-income people in both cities and the countryside, and to increase the pension of retired people from enterprises and the subsidy to the disabled or for the family of the deceased.
Ninthly, to fully implement value-added tax reform in all the regions and industries in China; to encourage enterprises to conduct technical reform and to relieve 120 billion RMB of burden for the enterprises.
Tenthly, to enhance financial support on the economic growth. To cancel the ceiling for loan dispersal of commercial banks and to appropriately enlarge the credit size. To enhance the credit support on key projects, agriculture, farmers, and the rural area, SMEs, technical reform, acquisition and consolidation. To cultivate and strengthen credit growth in consumables with a clear aim. According to the primary calculation, 4 trillion RMB is needed for the above projects by the end of 2010. To fasten the construction progress, it was decided in the meeting to allocate an investment of 100 billion RMB by the central government and 20 billion RMB of fund for the reconstruction of the quake-hit area to boost the local investment and that from all walks of life, which shall be 400 billion RMB.
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