A worker produces fiber netting at a factory in Binzhou in China's eastern Shandong province on May 31, 2022. (STR / AFP)

BEIJING – China's State Council issued a circular Tuesday, urging the implementation of a package of detailed policy measures to further stabilize the economy.

In terms of monetary and financial policies, the country will reduce real borrowing costs, boost financing efficiency via capital markets, and strengthen financial support for infrastructure and major projects

The package, which was announced at a State Council executive meeting last week, includes 33 measures covering fiscal and financial policies as well as policies on investment, consumption, food and energy security, industrial and supply chains, as well as people's livelihoods.

China will enhance measures on value-added tax credit refunds, quicken fiscal spending and accelerate the issuance of special bonds from local governments, according to the circular.

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In terms of monetary and financial policies, the country will reduce real borrowing costs, boost financing efficiency via capital markets, and strengthen financial support for infrastructure and major projects.

On investment and consumption, China will boost investment in transport infrastructure, promote the healthy development of a platform economy and stimulate purchases of cars and home appliances, the document said.
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