State Council scheduled for 9 of the financial measures to stabilize the stock market

Chinese Premier Wen Jiabao presided over the 3, a State Council executive meeting to study the deployment of the current financial policies to promote economic development measures. It was noted that to cope with the international financial crisis and maintain stable and rapid economic development, we must conscientiously implement the proactive fiscal policy and moderate monetary policy, further financial support to economic development efforts. To improve the adoption of policies and measures to support innovation and institutional mechanisms to mobilize commercial banks to increase credit initiative to strengthen financial institutions the ability to resist risks, the formation of the banking, securities, insurance and so the expansion of financing, risk diversification efforts, better financial support To promote economic growth and structural adjustment. The meeting studied to determine the financial policies to promote economic development measures. (A) to implement appropriate monetary policies to promote the steady growth of monetary credit. Comprehensive use of the deposit reserve ratio, interest rates, exchange rate means that the banking system to maintain an adequate supply of liquidity, additional policy-related bank loans 2008 annual 100,000,000,000 yuan. (B) to strengthen and improve credit services to meet the reasonable demand of funds. To encourage local governments through the injection of capital, risk compensation, and so on a variety of ways to increase the company's credit guarantee to support; the establishment of a multi-level SME Loan Guarantee Fund and the security agencies to increase the proportion of loans to small and medium enterprises; eligible for the SME credit guarantee institutions to avoid Levy sales tax; the establishment of rural credit guarantee mechanisms, effective in rural areas to expand the scope of security, rural development and actively explore various forms of secured credit products; active expansion of housing, cars and consumer credit market in rural areas. (C) to speed up construction of a multi-level capital market system, the market's function of resource allocation. The stability of the stock market run, promote the steady development of futures markets, and expand the size of the bond issue, and give priority to infrastructure, livelihood projects, ecological environment and post-disaster reconstruction, and other related issue. (D) to play insurance and finance functions, the promotion of economic and social stability in the run. Positive development "three rural", housing and car consumption, health, old-age insurance, etc., in order to guide insurance claims such as investment in transport, communications, energy, infrastructure and rural infrastructure projects. (E) innovative financing, mergers and acquisitions through loans, real estate investment trust funds, equity funds and regulate the development of various forms of private financing, expand the financing channels for enterprises. (Vi) to improve foreign exchange management, and vigorously promote trade and investment facilitation. Appropriately increasing the proportion of corporate foreign exchange payment in advance to facilitate enterprises, especially small and medium enterprises, trade financing, foreign exchange to improve efficiency in the use of funds to support the development of foreign trade. (Vii) to speed up the modernization of financial services, and improve the level of financial services. To further enrich the payment system, the expansion of the state treasury to pay directly related disaster relief subsidies and other government subsidies of the scope of the Fund, optimize the export tax rebate process, to continue to promote small and medium enterprises and rural credit system. (Viii) increase the fiscal and taxation policy support, financial capital to play the leverage to strengthen the financial sector to resolve non-performing assets and the promotion of economic growth. (I) to deepen financial reforms, improve the financial supervision system, strengthening the monitoring and risk management, and effectively protect the financial security and stability. The meeting heard and deliberated on the 2008 State Science and Technology Award for the work of the assessment report on the approval of candidates for the award-winning, the type and level of incentives.