The State Council states that the economy's ability to resist risks has been enhanced

This year's stable economic growth has entered the second half, and how to implement multiple previous deployments has become the key to achieving the annual economic tasks. On the 8th, Premier Li Keqiang presided over a State Council executive meeting, focusing on listening to reports on the implementation of major policies and measures and key inspections by the State Council, and deploying rectification of problems identified through audits. The meeting clearly stated that for those who fail to implement the plan effectively, they will be resolutely dealt with and rectified, and valuable public funding resources will be used to promote development and benefit people's livelihoods. Official scholars interviewed by the First Financial Daily believe that the current economic policy deployment has been basically completed, and the second half of the year will mainly focus on implementation and supervision. He stated that despite the complex domestic and international environment, the economy still faces great challenges in the second half of the year. There are not many policies, the key is to be able to implement them and play a role. The current policy opinions are sufficient In addition, a reporter from the First Financial Daily also learned from official sources on the 8th that various departments conducted economic research and evaluation in the middle of the year. According to the new research situation, we will also make some policy reserves and decide whether to launch them based on corresponding trends. This person also agrees that if the current policy deployment is implemented well, the Chinese economy will not only stabilize and recover smoothly, but also achieve great results in structural adjustment and improvement of people's livelihood. Strictly implement policies As early as last year, the first major inspection by the State Council swept through central and local departments, sparking a wave of nationwide inspections. Against the backdrop of sustained economic fatigue, in May of this year, the State Council issued a notice deploying key inspections on the implementation of major policy measures. This inspection mainly addresses three issues: making every effort to promote the implementation of major policies, focusing on solving prominent problems in work, and effectively promoting local and departmental responsibilities. When making a judgment on the current economic fundamentals at the meeting on the 8th, it was pointed out that in the past two months, the positive factors in China's economic development have continuously increased, the pace of structural adjustment has accelerated, the fiscal and monetary policies have continued to show effectiveness, the development momentum and risk resistance ability have been enhanced, and there is confidence and conditions to complete the main goals and tasks of economic and social development for the whole year. The meeting believes that further strengthening the implementation of major policies, reforms, and projects is of great significance in ensuring that the economy operates within a reasonable range and promoting quality, efficiency, and upgrading. Based on the inspection results, the above meeting proposed to urge the acceleration of railway, rural road, and major water conservancy construction to ensure the achievement of the annual goals. Support international production capacity cooperation through special bonds and other market-oriented financing. In addition, issues related to the integration of agricultural funds, relaxation of the use of housing provident fund, and sharing of government information that have not been fully implemented will be listed for follow-up. We must urgently clean up laws, regulations, and normative documents that hinder the progress of reform and the implementation of policies, accelerate the revision of financial, investment and financing management regulations, as well as market access, product and service standards. Multiple professionals interviewed by the First Financial Daily stated that the implementation efforts at the government level have indeed greatly increased this year. Both the approval process and the speed of fund disbursement are the fastest in recent years, "a railway system official told the First Financial Daily reporter. The railway investment situation in the first five months of this year was better than in previous years, thanks to the rapid disbursement of financial funds. The progress of important measures to stabilize growth, such as shantytown renovation and major water conservancy projects, is also worth paying attention to. In the first five months, the China Development Bank issued a loan of 262.5 billion yuan for shantytown renovation, a year-on-year increase of 58%. Relevant parties have stated that they will strive to issue 400 billion yuan in shantytown renovation loans in the first half of this year, and it is expected that the loan balance will reach 1 trillion yuan by the end of June. In terms of the implementation of major water conservancy projects, the Ministry of Water Resources has established a system of ten day statistics, monthly scheduling, and quarterly supervision, fully implementing target responsibilities, vigorously grasping construction progress, and strengthening supervision and accountability. As of now, 60 out of 172 major water conservancy projects have started construction, and another 24 will be started in the second half of the year. In addition, the China Banking Regulatory Commission has developed inclusive finance and increased support for agriculture, rural areas, and small and micro enterprises. As of the first quarter of this year, the balance of agricultural loans from banking and financial institutions was 24.6 trillion yuan, an increase of 1.1 trillion yuan from the beginning of the year, a year-on-year increase of 12.9%, which is 0.8 percentage points higher than the average growth rate of various loans; The balance of loans for small and micro enterprises was 21.4 trillion yuan, an increase of 0.71 trillion yuan from the beginning of the year, a year-on-year increase of 16.8%, which is 3.5 percentage points higher than the average growth rate of various loans. For the implementation situation in the future, the above meeting proposed that localities should creatively carry out work based on actual conditions, and departments should strengthen services to help localities solve problems. Hold accountable those who clearly fail to take action or fail to rectify their offers. Establish and improve a regular supervision mechanism to ensure the effectiveness of various policies. Consolidate finances for urgently needed areas With the increasing issuance of local bonds, the tight local finances have been eased. In addition, the State Council has previously proposed to activate dormant assets and use the money on the cutting edge, which has truly provided the finance with usable money and more "positive" conditions. The above meeting confirmed that the finance departments at all levels will recover more than 250 billion yuan of accumulated and illegal funds, and accelerate the overall planning for urgently needed areas; The State Council will adjust the 23.9 billion yuan of central budget investment stock funds for major projects under construction; Newly added construction land quotas for the year of ineffective disposal of idle land. The aforementioned experts told the First Financial Daily that finance plays a crucial role in attracting more social resources, effectively revitalizing dormant assets, and using finance in major areas will play a significant role in supporting the entire economy and structural transformation. The above meeting also discussed the previously announced results of the 2014 central budget execution and other fiscal revenue and expenditure audits. The meeting pointed out that strengthening the rectification of audit problems is of great significance for improving the overall planning ability and utilization efficiency of public funds, making proactive fiscal policies more effective, and improving government management. As for how to make changes, the meeting proposed to establish a rectification ledger, clarify the time limit, strictly hold accountable, focus on improving the system, and resolutely prevent some problems from being repeatedly corrected. The meeting also stressed that the rectification situation should be reported to the State Council before the end of November and announced after reporting to the National People's Congress.