We will reform and refine monetary and credit supply mechanisms, and employ as needed a combination of quantitative and pricing approaches, like required reserve ratios and interest rates, to guide financial institutions in increasing credit supply and bringing down the cost of borrowing, ensure targeted and efficient support for the real economy, and avoid funds circulating within the financial sector without entering the real economy or being diverted out of the real economy.

More targeted cuts will be made to required reserve ratios for medium and small banks; the additional funds thus released will be lent to private enterprises and small and micro businesses.

We will support large commercial banks in replenishing capital through multiple channels, strengthen their capacity to supply credit, and encourage them to increase medium- and long-term loans and credit loans to the manufacturing sector. This year, loans to be granted to small and micro businesses by large state-owned commercial banks will increase by over 30 percent.

Fees charged for banking and intermediary services will be overhauled. We will improve the internal assessment mechanisms of financial institutions, encourage more inclusive financial services, achieve a marked improvement in providing financing for medium, small, and micro enterprises, and see that there are definite reductions in overall financing costs.

有效发挥地方政府债券作用。今年拟安排地方政府专项债券2.15万亿元，比去年增加8000亿元，为重点项目建设提供资金支持，也为更好防范化解地方政府债务风险创造条件。合理扩大专项债券使用范围。继续发行一定数量的地方政府置换债券，减轻地方利息负担。鼓励采取市场化方式，妥善解决融资平台到期债务问题，不能搞“半拉子”工程。

We will make effective use of local government bonds.

This year, 2.15 trillion yuan of special local government bonds will be issued, an 800 billion yuan increase on last year. This is designed to both provide funding for key projects and create conditions for better forestalling and defusing local governments' debt risks.

The scope of use for special local government bonds will be moderately expanded. We will continue the issuance of some local government bonds to replace outstanding debts in order to reduce the interest payment burdens of local governments. We will encourage the adoption of market approaches to solve the issue of maturing debts on financing platforms and make sure that projects financed by such debts are not stopped half way.

多管齐下稳定和扩大就业。扎实做好高校毕业生、退役军人、农民工等重点群体就业工作，加强对城镇各类就业困难人员的就业帮扶。对招用农村贫困人口、城镇登记失业半年以上人员的各类企业，三年内给予定额税费减免。加强对灵活就业、新就业形态的支持。坚决防止和纠正就业中的性别和身份歧视。实施职业技能提升行动，从失业保险基金结余中拿出1000亿元，用于1500万人次以上的职工技能提升和转岗转业培训。健全技术工人职业发展机制和政策。加快发展现代职业教育，既有利于缓解当前就业压力，也是解决高技能人才短缺的战略之举。改革完善高职院校考试招生办法，鼓励更多应届高中毕业生和退役军人、下岗职工、农民工等报考，今年大规模扩招100万人。扩大高职院校奖助学金覆盖面、提高补助标准，加快学历证书和职业技能等级证书互通衔接。改革高职院校办学体制，加强师资队伍建设，提高办学质量。引导一批普通本科高校转为应用型大学。中央财政大幅增加对高职院校的投入，地方财政也要加强支持。设立中等职业教育国家奖学金。支持企业和社会力量兴办职业教育，加快产教融合实训基地建设。我们要以现代职业教育的大改革大发展，加快培养国家发展急需的各类技术技能人才，让更多青年凭借一技之长实现人生价值，让三百六十行人才荟萃、繁星璀璨。

We will use multiple channels to achieve stable and expanding employment.

We will work to ensure employment for key groups such as college graduates, demobilized military personnel, and rural migrant workers; and we should give greater employment support for urban jobseekers facing difficulties in securing employment. Enterprises hiring staff from rural poor people or urban residents registered as unemployed for at least six months will be entitled to a fixed amount of tax and fee deductions for three years.

We will strengthen support for flexible employment and new forms of employment.

We will resolutely protect against and stop gender and identity discrimination in employment.

We will implement a vocational skills training initiative, and allocate 100 billion yuan from the surplus in unemployment insurance funds to provide training for over 15 million people upgrading their skills or switching jobs or industries. We will put in place better mechanisms and policies for the career development of skilled workers.

Stepping up the development of modern vocational education is a strategic move that will not only ease current employment pressure, but also help to address the shortage of highly-skilled personnel. We will reform and improve the ways that vocational colleges conduct examinations and enrollment, encourage more high school graduates, demobilized military personnel, laid-off workers, and rural migrant workers to apply, and this year achieve a large-scale expansion of one million in student enrollments.