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The State Council, China’s cabinet, said it has sent special working groups headed by ministers to some major economic powerhouses to oversee implementation of wide-ranging policies to stabilize the economy.
The move came in the wake of the announcement of 19 measures at a State Council executive meeting on Wednesday, which has been interpreted as the country’s pro-stabilization policy package version 2.0 in addition to the 33 pro-growth measures announced in late May.
A supervisory task force headed by Ni Hong, Minister of Housing and Urban-Rural Development, arrived in East China’s Fujian province on Thursday and another team spearheaded by Minister of Transport Li Xiaopeng arrived in Central China’s Hubei province on Friday, according to information from the local authorities.
Li Guoying, Minister of Water Resources, led another working group to Central China’s Hunan province on Thursday through Saturday.
In addition, Huang Runqiu, Minister of Ecology and Environment, addressed a meeting in Jinan, East China’s Shandong province on Friday, joined by a working team headed by Huang and the provincial government. An on-site meeting for the supervision and coordination of the pro-stabilization push in Central China’s Henan Province was also held on Saturday in Zhengzhou, with the attendance of Yi Gang, governor of the People’s Bank of China, the country’s central bank.
The State Council’s decision to send working groups to a number of provincial regions comes at a pivotal moment for solidifying the foundation of the economic recovery, the state-run China Construction News reported Friday, citing the minister of housing and urban-rural development.
Describing the dispatch as a major move to implement the two policy packages that have been unveiled, Ni stressed that the working groups are intended to be oriented toward goals and problems, thereby helping local governments to address difficulties and accelerate project implementation, according to the report.
The working group, led by Ni, inspected Fuzhou, the capital of Fujian province, and the city of Fuqing on Friday where they familiarized itself with local infrastructure development and the efforts to ensure the delivery of stalled housing projects, according to the report.