Chinese premier stresses enhancing consistency of macro policy orientation

Chinese Premier Li Qiang presides over a study session held by the State Council on Oct. 8, 2024. Li emphasized the importance of enhancing the consistency of macro policy orientation and creating great synergy to promote high-quality development. (Xinhua/Yin Bogu)

BEIJING, Oct. 8 (Xinhua) -- Chinese Premier Li Qiang on Tuesday emphasized the importance of enhancing the consistency of macro policy orientation and creating great synergy to promote high-quality development.

Li made the remarks at a study session held by the State Council.

Noting that macroeconomic governance is more complex at present, Li said that efforts should be made to optimize the combination of policy resources and tools with systematic thinking and measures, to improve the effectiveness of policies.

The targets of policies should be confirmed after considering the overall needs of economic and social development, said Li.

While the economy faces relatively high downward pressure, policies conducive to stabilizing growth and expectations should be rolled out more proactively, and contractionary and inhibitory measures should be prudently introduced, he said.

The assessment and evaluation of policies should be further fine-tuned, said Li, adding that the standards should be set judiciously.

Li noted that non-economic policies should be included in assessing macroeconomic policy consistency, and the effect of new policies should be evaluated from perspectives including economic development, stabilizing expectations, employment and people's livelihoods.

Huang Hanquan, head of the Chinese Academy of Macroeconomic Research gave a lecture at the session. Vice Premier Ding Xuexiang, Vice Premier Zhang Guoqing and State Councilor Wang Xiaohong participated in the discussions.