The contraction in external demand due to the global COVID-19 pandemic and subdued international crude oil prices may continue to put pressure on the PPI, which could squeeze profits of industrial firms, according to Li Lin, chief economist with Beijing-based fintech conglomerate CreditEase.
The country should further improve its healthcare and other social security systems to address the rapid aging of the population, said Liu Yuanli, director of CAWA and chief editor of the report.
The cost cuts were introduced in February, at the height of the domestic COVID-19 outbreak, when factories, restaurants, hotels and shopping malls remained shuttered nationwide, threatening widespread job losses.
The country called for high-quality development in rural road construction and deep reform to ensure that such construction meshes with the causes of fighting poverty, the rural vitalization strategy and agricultural modernization.
The conversation was soon interrupted by Liu's classmate Li Shizhuo, who had a "low income" meal of water and rice at the banquet.
The construction of the solar power plant called "Bukhug" began in May 2018 and was completed in December, according to Tenuun Gerel Construction.
安徽亳州孩子叛逆
The construction of an interconnected African grid will help promote the use of clean energy, connect local electrical grids and accelerate the development of mineral resources and deep processing industries, he said in a video presented at the forum.
The country rolled out tax cuts and fee reductions that totaled over 2 trillion yuan (0 billion) last year, with manufacturers the primary beneficiaries. Their value-added tax rate was cut from 16 to 13 percent.
The country's aging population will bring new opportunities for the market, and an increasing proportion of consumers will prefer to purchase high-quality products and services, noted Wang Bin, co-founder and president of venture capital and technology-focused media platform iyiou.com.
The country has signed or upgraded five free trade agreements with 13 countries along the route, and is accelerating expanding a high-standard free trade network covering Belt and Road countries and serving the whole world.