- The government will provide more than 300 billion yuan in additional funding for a program that gave state policy banks the tools to finance infrastructure projects, doubling the scale of a plan announced at the end of June.
- Local governments are urged to use up more than 500 billion yuan in existing special bond ceiling limits by the end of October.
- A batch of infrastructure projects will be approved to start construction. The projects must make a profit, their quality must be ensured and the funds should be prevented from being used for other purposes.
Energy Supply
- Central government-run power generation companies will be supported to sell 200 billion yuan in special debt to ensure energy supply.
Property Support
- Local governments will be permitted to use city-specific credit policies in a flexible way and reasonably support the demand for first homes and better housing.
Business Aid
- Measures to help private company development and investment will be introduced, and the healthy and sustainable growth of the platform economy will be promoted.
- The government will make it more convenient for business people to travel in and out of the country.
- Companies will be allowed to delay the payment of their administrative fees by one quarter.
- Local governments will be encouraged to set up risk compensation funds for loans to micro, small and medium-sized companies and individual business owners.
- Officials will continue to take measures to ensure smooth logistics.
Agricultural Funding
- Some 10 billion yuan in agricultural material subsidies will be granted in addition to the 30 billion yuan already given this year.
- Supervision of Implementation
- Government agencies are urged to “quickly” release specific details for the implementation of the policies, and local authorities should introduce supporting measures.
- The State Council will send supervision and working groups to regions; teams led by heads of central government agencies will be dispatched to economically strong provinces to improve the efficiency of project approvals and accelerate the implementation of the measures.
- The work of local officials to stabilize the economy will be supervised by the State Council inspectors, who will also provide necessary aid for the execution of the task.
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