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tjldxdkjyxgs 2024-03-29 17:44:00

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Li from the China Metallurgical Industry Planning & Research Institute said though market-oriented M&As and development funds will be good measures to boost industry concentration, there remains some difficulties.

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Like Li, many patients' relatives use the communal kitchen, believing home-cooked food is the best way to care for their loved ones and also because it is cheaper than the food sold in the hospital.

Likewise, China is fostering innovation-driven development. In this process, China is improving its independent innovation capability in science, technology, engineering and industries. Right now, China is leading the world in telecommunication, aerospace, high-speed rail and nuclear energy.

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Light bulbs. Photo: Andre Mouraux

Li said in his Government Work Report this month that efforts will be made to further lighten the tax burden on businesses. The government will reform and improve VAT, consolidate the three tax brackets into two, adjust tax rates, prioritize lowering rates in manufacturing and transportation, and raise the threshold for annual sales volume for small-scale taxpayers.

Li said if the whole of society abides by the code, "our society will be more civilized, harmonious and stable". He also called for national legislators to play a leading role in studying, popularizing and following the code.

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Liao Lin, senior executive vice-president of ICBC, said by the end of 2019, the balance of small and micro enterprise loans increased by 52 percent from the beginning of last year. The bank also lowered the comprehensive cost of financing for small businesses by more than 1 percentage point through product innovation and fee reductions. The interest rate of new inclusive loans issued by the bank last year was 4.52 percent.

Li, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, made the remarks during a research trip from Thursday to Friday in East China's Zhejiang Province.

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Li said the eight SCO members, which cover three-fifths of land in Europe and Asia with nearly half the world's population and 20 percent of its gross domestic product, have a huge market potential. Tax and non-tax barriers should be reduced to build an integrated market in the region and unleash potential for trade, as the global economy and trade are recovering, he said.

Li, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks when presiding over a symposium Friday where he consulted representatives from the education, science and technology, culture, health, and sports sectors, as well as members of the public, on a draft version of the government work report.

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