CPPCC member: Report addresses enterprises' difficulties

The Central Government has given priorities to recover, expand and boost consumption, and it would further reduce taxation and fees, which would be helpful for the development of private enterprises.

Dr. Ken Chu

Dr. Ken Chu, a member of the National Committee of the CPPCC and the CEO and chairman of Mission Hills Group, thought that the government work report delivered by Premier Li Keqiang gives confidence to the market, invigorates the impetus of private investors and stresses the stability of growth, employment and prices.

“China will keep its GDP growth target at 5% and add 12 million jobs this year. These goals show the country’s determination for economic growth. Addressing enterprises’ difficulties, the government also unveiled relief measure to support market entities and stimulate its development,” Chu said, adding that he thought Li’s report was very practical in tacking the country’s socioeconomic problems such as enterprises’ operation difficulties, shrinking consumption and employment pressure. The report also offered solutions to these problems and showed confidence for future development.

In this year’s “two sessions,” Chu brought forth four proposals including one suggesting relieving college graduates’ employment difficulties by motivating hiring among private enterprises.

Data showed that about 11.58 million students will graduate from college this year, with private enterprises as the main employment channel for these graduates.

Chu suggested the Central Government work out a guidance for local governments to expand the base of enterprises that enjoy subsidies when recruiting college graduates.

Chu suggested financial institutions offer low-interest talent loans to enterprises hiring fresh college graduates to reduce their labor costs.

“The loans can be given out by auditing the records of enterprises in recruiting college graduates and its actual expenditures,” Chu said.

For enterprises recruiting a certain number of college graduates for three consecutive years, the government can grant tax refunds, he added.

Chu also suggested the government setting up funds for enterprises to train graduates.

Chu’s other proposals include boosting consumption in the culture and tourism sector, further opening up of Hainan Free Trade Port, and the high-quality development of tourist sites.