Li Qiang presided over the Executive Meeting of the State Council to study the work related to service trade and service consumption

Li Qiang presided over the Executive Meeting of the State Council
Research on work related to boosting consumption
The “Action Plan for Stabilizing Foreign Investment in 2025” was approved after deliberation
Study and implement policies and measures to resolve structural contradictions in key industries
Discussing the “National Development Planning Law of the People’s Republic of China (Draft)”

The meeting pointed out that boosting consumption is the top priority in expanding domestic demand and strengthening the domestic circulation. We must effectively change our mindset and place boosting consumption in a more prominent position. We should vigorously support residents’ income increase, promote reasonable growth of wage income, expand channels for property income, and enhance consumption capacity. We should focus on consumption areas with strong driving forces and large growth potential, and tap into consumption potential. We should promote the improvement of service consumption to benefit the people, optimize the supply of services for the elderly and children, support convenient service consumption, expand cultural, sports, and tourism consumption, promote ice and snow consumption, and develop inbound consumption. We should promote the upgrading and renewal of bulk consumption, increase support for trading old consumer goods for new ones, better meet housing consumption demand, and extend the automobile consumption chain. We should strengthen the leadership of consumer brands, support the accelerated development of new consumption, promote “artificial intelligence + consumption”, healthy consumption, etc., and continue to create new products, new scenarios, and new hotspots for consumption. We should implement a three-year action plan to optimize the consumption environment, further improve systems such as quality standards, credit constraints, comprehensive governance, and consumer rights protection, focus on solving prominent problems that the public has strongly reflected, and create a reassuring consumption environment.

The meeting pointed out that foreign-funded enterprises play a significant role in absorbing employment, stabilizing exports, and promoting industrial upgrading. More pragmatic and effective measures should be taken to maintain the existing stock and expand the increment. We should expand independent opening up in an orderly manner, deepen pilot projects for opening up in relevant fields, implement the requirement to fully abolish restrictions on foreign investment access in the manufacturing sector, optimize the comprehensive pilot demonstration for expanding the opening up of the national service industry, and expand the scope of industries encouraged for foreign investment. We should continue to build the “Invest in China” brand, increase support for domestic reinvestment by foreign-funded enterprises, encourage foreign investment in equity investments in China, and optimize rules and procedures for foreign mergers and acquisitions. In government procurement and other work, domestic and foreign-funded enterprises should be treated equally, financing channels for foreign-funded enterprises should be broadened, and intellectual property protection should be strengthened. We should provide good service and support for foreign-funded projects, and provide more convenience for foreign enterprise personnel in terms of entry and exit, residence and stay.

The meeting pointed out that efforts should be made from both the supply and demand sides to address the structural contradictions and other issues in key industries, addressing both the symptoms and root causes, in order to promote healthy industrial development and quality improvement and upgrading. It is necessary to optimize the industrial layout, strengthen standard leadership, promote integration and restructuring, facilitate the exit of backward and inefficient production capacity, and increase the supply of high-end production capacity. Market supervision should be optimized, industry self-discipline should be strengthened, and the market order of fair competition and survival of the fittest should be jointly maintained.

The meeting discussed and approved in principle the “Law of the People’s Republic of China on National Development Planning (Draft)”, deciding to submit the draft to the Standing Committee of the National People’s Congress for deliberation. The meeting pointed out that it is necessary to continuously improve the scientific, democratic, legal, and standardized level of national development planning, so as to better play the strategic guiding role of national development planning.

The meeting also discussed other matters.