A series of measures proposed by the 2020 government work report to stabilize the supply chain, industrial chain and market players has won praise from deputies to the National People's Congress (NPC) and members of the National Committee of the Chinese People's Political Consultative Conference (CPPCC).
The measures will lessen the impact of the COVID-19 epidemic on the economy, while also helping achieve other national goals such as boosting employment, alleviating poverty, and gathering strength to ensure economic recovery, according to the deputies and members.
Stabilizing market players and helping enterprises, especially micro, small and medium ones, and privately or individually-owned businesses, to survive the pandemic will surely boost economic recovery and facilitate employment, said Liu Yonghao, a member of the National Committee of the CPPCC and chairman of China's agricultural conglomerate New Hope Group.
The government work report also pointed out that China will intensify efforts to cut taxes and administrative fees and ensure that private enterprises have equal access to production factors and governmental support, which Liu believes will inject confidence into private enterprises.
Li Shufu, an NPC deputy as well as chairman of Geely Auto Group, a leading automobile manufacturer, noted that Geely’s domestic suppliers had all resumed production by the end of March, with potential risks concerning the supply chain all effectively brought under control.
Government departments have issued a series of measures aimed at stabilizing and expanding automobile consumption, according to Li.
To revitalize the supply chain, Guangxi LiuGong Group Co., Ltd. provided medical supplies and production means to over 1,000 suppliers, said Cao Guangan, chairman of the company and an NPC deputy.
The company produced 4,500 excavators in April, setting a record, according to Cao, who believes that the government's measures to stabilize market players have boosted the spirits of enterprises.
Guaranteeing the stability of the supply chain and the industrial chain will not only ensure production in China, but will also inject strength into the recovery of the global economy, said Wang Qi, an NPC deputy as well as director of the Chamber of Commerce in the Tianfu New Area, adding that the chamber of commerce has provided various kinds of assistance and helped cut costs for enterprises amid the pandemic.