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The corporate income tax rate will be at 15 percent for companies in some industries that the government encourages to develop, compared with 25 percent for general businesses in other regions, from Jan 1, 2021 to Dec 31, 2030, said a statement jointly issued by the Ministry of Finance, State Taxation Administration and the National Development and Reform Commission.

The consensus is the common political foundation for the development of cross-Straits relations, he said, adding that it clearly defines the nature of those relations and indicates that both sides adhere to the one-China principle, he said.

The country has the world's biggest and most promising consumer market and will forge ahead with opening-up in a deeper and wider way to share the opportunities of its vast market with worldwide enterprises and investors, Han said.

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The cost of the fourth phase in the project is expected to reach about 7 billion yuan ( billion), He said.

The country has dealt with the issue of unbalanced and inadequate development in a forceful and orderly manner, coped with a complex situation that features a surge in external challenges and resolutely fought against the severe shocks from the COVID-19 pandemic, he said.

The contest started on May 28 and will run until Aug 24, with winners to be announced in September. A number of the photo submissions will be featured at the Canada-China Year of Tourism closing ceremony to be hosted by Canada later this year in China.

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The country had 50.7 billion parcels in total delivered through express delivery last year, topping the world's market for five consecutive years, according to Ma Junsheng, head of China's State Post Bureau. The postal sector raked in 1.2 trillion yuan (4.5 billion) of revenue in 2018, up 26.4 percent year–on-year.

The country vows to cultivate more than 10,000 enterprises under the pilot program during the period.

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The country will redouble efforts to develop major transportation and water conservancy projects, and increase national railway development capital by 100 billion yuan (about billion).

The council, which is better known as the IBLAC, held its 32nd consecutive annual meeting for the Mayor of Shanghai on Sunday. Initiated in 1989, the council has grown into an international think tank for Shanghai where multinational companies' top executives gather annually to share their knowledge and experience, which will not only help facilitate Shanghai's development but also that of China in general.