The recently held meeting of the Central Political Bureau emphasized the need to continuously improve the policy toolbox for stabilizing employment and the economy. The State Council Information Office held a press conference on the 28th, focusing on introducing several measures to stabilize employment, stabilize the economy, and promote high-quality development, in response to external concerns. Accelerate the introduction of incremental policies to increase support for enterprises to expand their employment. In terms of supporting employment, several measures mainly include encouraging enterprises to actively stabilize employment and increasing vocational skills training efforts. Yu Jiadong, Deputy Minister of the Ministry of Human Resources and Social Security, stated that he will accelerate the introduction of incremental policies, increase support for expanding employment opportunities for enterprises, increase employment subsidies for individuals, and increase the proportion of unemployment insurance stabilization and return for enterprises greatly affected by tariffs. We must fully implement the existing policies, accelerate the realization of stable employment returns, guaranteed loans, and employment subsidies, and continue to implement the reduction of unemployment and work-related injury insurance premiums. In the early stage, we increased the special loan limit for stabilizing and expanding positions, with a maximum credit limit of 50 million yuan for small and micro enterprises and 10 million yuan for individuals. Recently, we, together with the Ministry of Finance, have allocated 66.7 billion yuan in central employment subsidies to provide guarantees for policy implementation. ”Yu Jiadong said. Zou Lan, Vice President of the People's Bank of China, said that more efforts will be made to promote the implementation of the business guarantee loan policy, and more support will be given to returning migrant workers, new citizens, college graduates, women and other key groups to start businesses and find jobs. Yu Jiadong stated that an objective analysis and sufficient prediction have been made on this year's employment situation. The employment policy toolbox is sufficient, and policy reserves have been made in stimulating enterprises to absorb employment, supporting enterprises to stabilize positions, and promoting employment and entrepreneurship of unemployed people. It will be launched in a timely manner according to changes in the situation. Helping foreign trade enterprises actively respond to external risks and challenges. Since the beginning of this year, the risks and challenges faced by China's foreign trade development have significantly increased. In terms of stabilizing the development of foreign trade, several measures have been proposed to increase support for each industry and enterprise, to help export enterprises avoid risks. In terms of accelerating the integration reform of domestic and foreign trade, Vice Minister of Commerce Sheng Qiuping introduced that he will increase the support for "real money and silver" and promote "three increases and three reductions". The "three increases" refer to the government increasing financial investment, financial institutions increasing credit support, and insurance institutions increasing domestic trade insurance support. The "three reductions" refer to promoting the reduction and exemption of housing rent, booth fees, and traffic fees for difficult enterprises, and reducing the domestic sales costs of foreign trade enterprises. He also mentioned actively promoting foreign trade enterprises such as automobiles, home appliances, 3C, and home decoration to join the scope of "trade in" support. Deeply carry out production and sales docking, brand docking, and channel docking in key industries such as light industry, textile and clothing, and food, and mobilize local governments, associations, e-commerce platforms, and large supermarkets to participate extensively in the China Tour of Foreign Trade Excellent Products activity. In terms of strengthening trade finance support and protection, Sheng Qiuping said that relevant departments will further expand the underwriting scale and coverage of export credit insurance, so that foreign trade enterprises have more confidence to accept orders. Zou Lan said that financial institutions should guide small and medium-sized enterprises with high dependence on foreign trade, temporary difficulties, and competitive products not to withdraw loans, but to continuously borrow to ensure reasonable financing needs. Expanding service consumption to promote the expansion of automobile consumption. In terms of promoting consumption, several measures include expanding service consumption, strengthening care for disabled elderly people, and promoting the expansion of automobile consumption. Sheng Qiuping introduced that a key task this year is to organize and carry out pilot reforms in automobile circulation and consumption, supporting localities with conditions to actively innovate and take the lead in various aspects such as new cars, used cars, scrapped cars, and automobile aftermarket; Encourage relevant regions to optimize measures such as car purchase and travel restrictions. Recently, we have issued the second batch of funds for exchanging old for new consumer goods this year. The first two batches have issued a total of over 160 billion yuan, and there will be about 140 billion yuan in the future. We will issue them gradually according to the payment progress in various regions. ”Zhao Chenxin, Deputy Director of the National Development and Reform Commission, said that a childcare subsidy system will be established and implemented, special refinancing tools will be created, and support will be increased for key areas of service consumption and the development of the elderly care industry. At the same time, we will deepen the implementation of the special action to boost consumption and promptly introduce special measures in various fields to guide cities with purchase restrictions to target key groups such as long-term lottery families and car free families in issuing targeted additional car purchase quotas. Recently, the Ministry of Commerce, together with relevant departments, has successively issued the 2025 work plan for improving the quality and benefiting the people of service consumption, further optimizing the policy of tax refunds for leaving the country and expanding inbound consumption. Sheng Qiuping said that in the next step, a package of policy measures to support service consumption will be formulated in conjunction with relevant departments to address the shortcomings and weaknesses in the service consumption field. Adhere to the principle of "opening up to the outside world and opening up to the inside world", increase policy support, and continuously expand the supply of diversified services such as health, elderly care, childcare, and home economics. Zou Lan stated that efforts will be focused on the supply side of service consumption, focusing on key areas such as culture, tourism, sports, catering and accommodation, education and training, and increasing financial support. In actively expanding effective investment, several measures have been taken, including improving consumer infrastructure, vigorously boosting private investment enthusiasm, and establishing new policy based financial instruments. There is a very realistic and enormous potential for us to expand domestic demand. ”Zhao Chenxin said that the net asset value of China's total social equipment stock is about 40 trillion yuan. With the deepening of high-quality development, the annual investment demand for equipment replacement will exceed 5 trillion yuan. According to agency estimates, the scale of China's artificial intelligence industry will exceed 700 billion yuan in 2024, which has maintained a growth rate of more than 20% for many consecutive years, and the future investment space will continue to expand. Every one point increase in China's urbanization rate can stimulate investment demand on a trillion dollar scale. In terms of expanding investment, Zhao Chenxin said that updating and upgrading industrial software will be included in the scope of "two new" policy support, accelerating investment in consumer infrastructure and social sectors, formulating and implementing the "doubling" action for charging facilities, and supporting the construction of parking spaces in cities with a permanent population of over 3 million, especially in super large and mega cities. Strive to issue a list of all projects for the "dual" construction and central budget investment by the end of June 2025, and at the same time establish new policy financial instruments to solve the problem of insufficient capital for project construction. In the first quarter of this year, the contribution rate of domestic demand to economic growth increased by 6.3 percentage points compared to the fourth quarter of last year. Zhao Chenxin said, "To better leverage the initiative of domestic demand, the specific ideas and methods are very clear, which is to increase the income of low - and middle-income groups, vigorously boost consumption, expand effective investment, and strengthen the domestic circulation. In terms of smooth circulation, Zhao Chenxin said that we will accelerate the construction of a unified national market, carry out a market access barrier clearance and rectification action for about six months, and help foreign trade enterprises expand domestic sales; At the same time, we will accelerate the deep integration of technological innovation and industrial innovation, establish a national venture capital guidance fund, and promote the deep integration of artificial intelligence with 60 key industry directions and 700 basic scenarios. To create a stable development environment and increase support for the real economy, several measures have been proposed to continuously stabilize and activate the capital market, continuously consolidate the stable situation of the real estate market, and increase financial support for the real economy. Since this year, the People's Bank of China has used a variety of monetary policy tools to maintain a reasonable growth of monetary credit, urged banks to continue to optimize the credit structure, and promoted the sustained recovery of the economy. "In the next stage, the People's Bank of China will continue to implement a moderately loose monetary policy and strengthen its support for the real economy." Zou Lan said that the People's Bank of China will, in accordance with the economic situation at home and abroad and the operation of the financial market, cut reserve requirements and interest rates at an appropriate time, maintain sufficient liquidity, create new structural monetary policy tools, and focus on the key areas of stable employment and growth, increase financial support precisely. Zhao Chenxin stated that we still have abundant policy reserves and sufficient policy space, and will accelerate the implementation of several measures to stabilize employment and economy, ensuring direct access to the masses and enterprises; At the same time, efforts will be made to promote the implementation and effectiveness of established policies, including the special action to boost consumption, making good use of the 5 trillion yuan investment funds at the national level this year, and accelerating the establishment of the National Entrepreneurship Investment Guidance Fund. Most of these policies will be implemented in the second quarter, and policy consistency will be continuously strengthened. No matter how the international situation changes, we will anchor our development goals, maintain strategic focus, and concentrate on doing our own things well. We are full of confidence in achieving this year's economic and social development goals and tasks. ”Zhao Chenxin said. (New Society)