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China to further slash taxes, fees for manufacturing sector

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Core Tip:China will continue to maneuver its macro policies and boost the market expectation in 2020 to ensure economic growth wi
 China will continue to maneuver its macro policies and boost the market expectation in 2020 to ensure economic growth will remain within a reasonable range, Premier Li Keqiang said.

Li made the remarks when presiding over a symposium held Wednesday, wher he heard views and recommendations made by scholars and entrepreneurs on a draft version of the government work report.

Li, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, said the country will accelerate creating a business environment that is market-oriented, based on rule of law and internationalized to further energize market entities.

The implementation of tax and fee cuts will be expanded, and more effective measures will be taken to address the financing difficulties of small and micro businesses, he said.

Li stressed the importance of a loose and fair business environment for the enterprises, noting that there should be less government intervention in microeconomic activities.

Li also called for the development of new industries and businesses to counter downward pressure with greater market vitality, and encouraged domestic firms to participate in international cooperation and develop diversified markets.

Investment in infrastructure and urban facilities will be strengthened in areas of weakness, and there will be greater support for expanding and upgrading consumption to unlock the vast potential of the domestic market, Li said.

Han Zheng, a member of the Standing Committee of the Political Bureau of the CPC Central Committee and vice premier, attended the symposium.


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