Currently, international political and economic order is undergoing profound adjustment. Under the impact of global epidemic, the world economy is in a severe recession. Industrial and supply chains are broken, international trade and investment are shrinking, and the commodity market is volatile. Shrinking domestic consumption, investment and exports increased pressure on the job market.

Difficulties faced by enterprises, especially private enterprises and micro, small and medium-sized enterprises, have become prominent.

Risks have accumulated in financial and other sectors, and the balance between basic government revenue and expenditure has intensified.

Economic development is facing unprecedented challenges.

Meanwhile, China’s economy is at a crucial stage, with urgent needs to change the driving force for economic growth and optimize industrial structure. The combination of structural, institutional and periodic problems has brought about a series of difficulties and problems.

Affected by the COVID-19 Pandemic and uncertainties at home and abroad, China's GDP in the first quarter of 2020 recorded negative growth for the first time since the quarterly GDP data was released in 1992.