The People's Government of Hunan Province held a press conference on February 6, 2023. It introduced the newly-issued "Hunan's Several Policies and Measures on Taking the Initiative in Economic Growth Stabilization to Achieve Overall Improvement in Economic Operation" ("20 Measures to Stabilize Growth" in short). 

The "20 Measures to Stabilize Growth" focus on five aspects: promoting consumption recovery and upgrading; maintaining stable investment growth; expanding and improving the quality of foreign trade; cultivating and strengthening industrial driving forces; and, making every effort to boost the real economy. These preferential policies and measures aim at activating the enthusiasm, initiative, and creativity of various market entities, and promoting the overall improvement of economic operation.

There are four policies and measures related to consumption promotion, such as increasing consumption promotion activities and consumer subsidies.

Five policies and measures concerning stabilizing investment have been proposed, including the third round of "Three Hubs and Four New Missions" Strategy financing with a total amount of 150 billion yuan to support major projects construction.

In terms of expanding and improving the quality of foreign trade, three policies and measures have been put forward, to support foreign trade enterprises to seize the opportunity to get orders and expand the market.

Four policies and measures such as enhancing the cultivation of market entities have been proposed, to help cultivate and strengthen industrial driving forces.

Besides, four policies and measures have been raised to boost the real economy, including increasing financial support.

Winning the "Six Battles for Development" is the key and priority for Hunan Province to do a good job and break new ground this year. They are: the battle for the initiative in stabilizing economic growth; the battle to overcome difficulties in scientific and technological innovation; the lasting battle to optimize the development environment; the battle to prevent and resolve risks; the battle for a remarkable turnaround in safe production; and, the key battle for guaranteeing people's livelihood.

The battle for the initiative in stabilizing economic growth is the first of the "Six Battles for Development".

This article is from the Hunan Provincial Government www.enghunan.gov.cn.

Translator: Yu Jiangjiang

Chinese source: hunan.gov.cn