BEIJING — Premier Li Keqiang stressed the importance of efforts to tide over difficulties to ensure steady economic growth while presiding over an executive meeting of the State Council on March 14.

The meeting distributed the priorities set in this year's Government Work Report to the relevant bodies of the State Council and local governments, and called for solid implementation.

Acknowledging that the economy faces new downward pressure and increasing challenges, the meeting stressed the need to coordinate COVID-19 prevention and control with economic and social development, and the need to put the task of ensuring steady growth in an even more prominent position.

To this end, the country will closely monitor changes in the global economic situation, major economies' macro policy adjustments, the market trends of bulk commodities, and the impacts of these factors on China.

The country will continue to improve its response measures to ensure economic growth and employment, and keep prices within an appropriate range.

The meeting called for the thorough implementation of macro policies to keep the operations of market entities stable and promote employment stability.

Tax refunds and reductions are key measures this year to maintain a stable macroeconomic performance, the meeting said, and a detailed plan for value-added tax credit refunds will be formulated and launched as soon as possible.

Financial institutions should be guided to roll out measures targeting medium, small and micro enterprises, with a view to making financing more accessible and reducing comprehensive financing costs, according to the meeting.

Efforts will be made to boost domestic demand, unleash consumption potential and increase effective investment.

Stable supplies of coal and electricity will be ensured, the meeting said.

It underlined efforts to strengthen market oversight, safeguard fair competition, and make breakthroughs in core technologies.

Policies must be fully implemented to help resolve the actual difficulties faced by foreign-invested enterprises and foreign trade enterprises.

The meeting also underscored the need to consolidate and expand achievements in poverty alleviation, and implement measures concerning compulsory education, basic medical care, basic housing and other areas to ensure the people's essential needs.