Page 7 - REPORT ON THE IMPLEMENTATION OF THE 2022 PLAN FOR NATIONAL ECONOMIC AND SOCIAL EVELOPMENT AND ON THE 2023 DRAFT PLAN FOR NATIONAL ECONOMIC AND SOCIAL EVELOPMENT

instruments to support deferred payments on inclusive loans of MSEs and to
support inclusive credit loans to MSEs. In addition, we raised the ratio of

government funding for new loans issued through the instrument to support
inclusive loans to MSEs from 1% to 2% and reduced the interest rate of inclusive
loans to MSEs by one percentage point for the fourth quarter of the year.
To better ensure basic standards of living for those in need, we temporarily
extended the coverage of subsistence allowances and other social security policies,

and we adjusted the mechanism tying social assistance and benefit payments to
increases in the price of goods by appropriately lowering the threshold for the
mechanism to kick in, in order to include more low-income earners.
3) Stronger steps were taken to guarantee the supply and price stability of major

commodities.
We worked to ensure that price regulation mechanisms for essential
commodities were effectively implemented. We strengthened coordination of
production, transportation, and sales, improved adjustments to imports and
exports and commodity reserves, enhanced guidance over market expectations,

and ensured that market prices remained stable. We continued to employ the
minimum purchase price policy for grains as an effective means to ensure
reasonable grain prices, and we appropriately raised the minimum purchase prices
for rice and wheat, thus keeping grain production stable. We put more

responsibility on city mayors to ensure the supply of non-staple foods and
strengthened regulation over the hog market to cope with sharp fluctuations in
hog and pork prices. Activities related to price indexes were standardized, and
coordinated oversight over spot markets and futures markets was markedly
improved. We created long-term mechanisms for coal price regulation and

oversight, kept coal prices within an appropriate range, actively responded to the
sharp rise in international oil and gas prices, and guaranteed stable supply and
prices for household electricity and gas.
3. We firmly implemented the strategy to expand domestic demand and consistently
unlocked the potential of domestic demand.

We thoroughly and effectively implemented the “1+N” policy framework for
fostering a new development pattern. We formulated and implemented an outline
for the strategy to expand domestic demand for 2022 through 2035 and an
implementation plan for the strategy to expand domestic demand during the 14th
Five-Year Plan period. Focusing on expanding investment and stabilizing

consumption in key areas, we further unlocked the potential of domestic demand
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