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Premier Li calls for efficient use of government funds

At the executive meeting of China’s State Council, Premier Li Keqiang urged more efficient deployment of government funds to support economic growth in strategic sectors, as well as more investment in the country’s central and western regions.

The Premier also re-emphasized the importance of developing e-commerce in promoting the upgrading of traditional industries, reducing logistic costs, boosting consumption, and expanding employment. And lastly, participants also agreed to further diversify investments made by the national social security fund.

Under the new guideline, the fund will be allowed to invest even more in bonds issued by local governments and corporations, as well as in the equity of a wide range of companies, from SOEs to the private sector.