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he premier attached great importance to such measur
asures as reducing the rate of the value-added tax, increasing the
tax exemption for research costs and reformin
g individual inco
The measures should not only ease the tax burden for manufacturing com
panies but also reduce taxes for construct
es, which provide a great num
ber of jobs, Li said, adding that all industries should be covered by the benefits of tax cuts.
d more efforts
to urge government departments and State-owned e
nterprises to pay off their debts so that the effects of tax reduction are not diminished.
The government will take further measu
res to deepen r
eform and opening-up, en
courage innovation and entrepreneurship and promote fair competition, Li said, adding that com
panies should also seize the opportunity to promote high-quality growth.