Chinese Premier Li Keqiang has underlined effective macro policies focusing on market entities to advance reform and opening-up and maintain a smooth economic operation.

Li, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, made the remarks while presiding over a symposium on the economic situation attended by economists and entrepreneurs on Thursday.

China has encountered multiple challenges since the beginning of the year, including COVID-19, severe floods, rapidly rising commodity prices, and the tight supply of electricity and coal, Li said.

With the concerted efforts of all market entities, China's economy saw a steady recovery on the whole, and this year's main targets including increasing jobs would be achieved, Li said.

The economists and entrepreneurs in attendance offered suggestions on measures to stabilize exports, promote the development of small and medium-sized enterprises (SMEs), ease rising raw material costs pressure, and promote enterprise innovation.

The premier called for further tax and fee cuts to solve problems for manufacturing enterprises, SMEs, and self-employed people to solve problems, while supporting their innovation and upgrades.

Emphasizing policies to support coal-fired power enterprises to ensure stable power supply, Li also called for targeted measures to strengthen economic operation adjustments to alleviate the pressure transmitted to downstream SMEs by rising commodity prices.

It is necessary to advance reform and opening-up amid efforts to withstand difficulties and pressures by spurring market entities' vitality, Li noted.

China will improve efforts to support new forms of foreign trade such as cross-border e-commerce and overseas warehouses. China will also improve policies to support imports and exports and keep the RMB exchange rate stable at an appropriate and balanced level, he said.

Vice Premier Han Zheng attended the symposium. 

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