Red Star News:

The CPC Central Committee has reiterated multiple times the need to enhance the consistency of macro policy orientation to build a stable, transparent, and predictable policy environment. Thus, what aspects will the government pay attention to when formulating policies? Thank you.

Huang Shouhong:

Consolidating and building momentum for economic recovery and growth require us to enhance the consistency of macro policy orientation. In this regard, related arrangements have already been made at last year's Central Economic Work Conference and in this year's government work report.

First, we must enhance understanding, which means achieving unity in thinking with the CPC Central Committee. All localities and government departments have their own duties. When fulfilling these duties, they have to bear in mind the overall situation of the cause of the Party and the country. This year, our goal is to fulfill the main targets and tasks and promote high-quality development. Therefore, all localities and government departments have a responsibility to adhere to and serve this goal. They should actively consider what to do, and adopt more policies conducive to maintaining stable expectations, economic growth, and employment. They must exercise caution in formulating measures that could be contractionary or inhibitive in nature, and ensure the proper timing, intensity, and effect in introducing policies. Unity in thinking and enhanced understanding will lay a solid foundation for the consistency of macro policy orientation.

Second, we must set up and improve effective coordination mechanisms, thereby fully leveraging the roles of assessment, gatekeeping, and coordination. On the one hand, government departments under the State Council will conduct comprehensive and holistic assessments before introducing new policies to ensure they are conducive to steady growth and high-quality development. On the other hand, based on this, the National Development and Reform Commission will carry out further assessment using its policy and document evaluation mechanism. Policies and documents will only be released and implemented if they are proven, through the evaluation mechanism, to have no negative impact on stabilizing the macroeconomy and market expectations. Since many non-economic policies might directly or indirectly affect social expectations and economic operation, they will be included in the evaluation of the consistency of macro policy orientation according to the Central Economic Work Conference, in a bid to enhance policy coordination.

Third, in policymaking, all localities and government departments should heed and draw on the propositions and views of all concerned parties. They should pay attention to the views of business entities and respond to their concerns when formulating policies related to enterprises. Last year, relevant authorities established a regular communication mechanism between the government and enterprises, which has been well-received by enterprises. This mechanism will continue to be upheld and improved this year. Additionally, we should communicate policies to the public in a targeted manner to avoid misinterpretation and misjudgment by business entities. By doing so, we will effectively boost people's confidence in development and improve public expectations.

Thank you.