BEIJING (Reuters). China’s cabinet has announced a series of 33 measures to boost its economy from the pandemic. The package includes fiscal, financial and investment policies.

China’s State Council flagged the stimulus package during a routine meeting last Wednesday. This is a sign of Beijing’s move toward growth after COVID-19 controls hammered the economy and threatened Beijing’s annual growth goal of 5.5%.

The government directed localities to not increase curbs on automobile purchases. It also instructed those who already had curbs placed that they should slowly raise their car ownership quotas.

Also Tuesday’s announcement by the Ministry of Finance was that they would reduce the small-engined car purchase tax to half. [B9N2X102M]

China is committed to promoting platform businesses’ healthy growth, according to the State Council. These companies are also expected play an important role in stabilizing jobs.

According to the State Council, platform companies can also be encouraged and supported in making breakthroughs in artificial intelligence, cloud computing, blockchain technologies, as well as other areas such, according to the State Council. It is yet another sign of China’s relaxation on this sector.

According to these measures, China will increase private investment and accelerate infrastructure construction, and encourage purchases of automobiles and other home appliances in order to stabilize investments.

China’s monetary and financial policy will increase financing efficiency through capital markets. It will support domestic companies to list in Hong Kong and encourage offshore listing by qualified platform firms.

Also, the State Council vowed further reductions in real borrowing costs as well as strengthening financial support of infrastructure and major project financing.

China is increasing fiscal support for the economy by accelerating local government special bonds issuances and providing cash support for college-educated workers.

The State Council stated that authorities will provide tax credit rebates for more industries and enable firms affected by COVID-19 curbs, to delay social security payments.

Others include measures to secure energy supply and ensure food security.