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China will continue with the policy which allows small and micro-sized businesses to postpone principal and interest repayments on inclusive loans in the first quarter of next year, and will extend the policy period appropriately, according to the meeting presided over by Premier Li Keqiang on Monday.
China will implement its proactive fiscal policy with larger tax cuts this year, and more effective measures will be unveiled in the coming months, officials said. The aim is to strengthen economic growth and deepen supply-side structural reform, according to the policy tone-setting annual Central Economic Work Conference held in December.
China will only become more open to the world, and the expanding of its opening up is a measure that safeguards and promotes the free trade system, he said.
China's auto sales went down 8.2 percent in 2019 to 25.77 million, according to data released earlier this week by the China Association of Automobile Manufacturers.
China's central bank injected 257.5 billion yuan (.8 billion) of funds into the market on Wednesday, in a move to bolster the private sector and small businesses.