On August 16, Premier Li Keqiang called for a greater sense of urgency to stabilize the foundation of economic recovery, saying that the nation's economic powerhouses must further tap into the potential of their policies, protect market players and stabilize growth.

Li made the remarks in Shenzhen while presiding over a symposium on the economic situation. Leaders of key economic provinces — Guangdong, Jiangsu, Zhejiang, Shandong, Henan, and Sichuan — spoke at the meeting or via video link.

The six provinces contribute to 45 percent of the country's total economic output and boast over 40 percent of China's market entities, which offer more than 40 percent of the country's job opportunities.

Li said China's economic recovery is now at a period that requires the most strenuous efforts in policy support, with data in July suggesting a fluctuation by a small margin after a rebound in June.

He called for steps to effectively coordinate epidemic containment and socioeconomic development, reiterating the importance of bringing Covid-19 under control, stabilizing economic growth, and ensuring safe development.

Li urged the six provinces to shoulder their responsibilities and play a key role in stabilizing growth.

It is important to ensure solid implementation of a package of pro-growth policies while leveraging policies to energize market entities, smooth logistics, and stabilize industrial and supply chains, said Li.

He noted that local governments should tighten their belts, put existing assets to better use, maintain a balance between revenue and expenditure, and guarantee fiscal spending in ensuring people's livelihoods.

Li stressed work to step up support for businesses to tide over difficulties and resume vitality.

He noted that sluggish demand is a major problem now facing the economy and called for the provinces to step up efforts to boost consumer spending and support homebuyers who are eager to improve their housing conditions.

The premier also stressed the importance of pursuing a higher level of opening-up and stabilizing foreign trade and investment.

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