Premier Li Keqiang on May 10 presided over a symposium on cutting taxes and costs.
Vice-Premier Han Zheng also attended the event.
Attendees of the symposium, representatives of a string of enterprises, unanimously said that the new round of tax and fee cuts went beyond their expectations.
The implementation of these policies facilitated increased research, development, and employment, they said.
Premier Li required departments concerned to work on suggestions submitted by entrepreneurial representatives on alleviating the burden on enterprises.
The implementation of larger-scale tax and fee cuts, the Premier said, are significant decisions made by the Party and the State Council, which effectively enhanced market entities’ confidence and greatly helped the steady development of China’s economy.
Against the backdrop of increasing global uncertainties, China’s economy is faced with downward pressure. China should stand firm and tactically tackle these difficulties, the Premier said.
Departments concerned should carry out the decisions made by the Central Economic Work Conference and the Government Work Report with efficacy and further stabilize employment, finance, foreign trade, investment, and expectations for economic development.
Premier Li said the large-scale tax and fee reduction is a key measure to optimize the business climate and inspire market vitality.
It is conducive to stable growth and employment, and enables enterprises to innovate more and increase their competitiveness, he said.
As a key task for the year, the tax and fee cuts, in return, will expand the tax source and empower the economy, Premier Li said.
He said this year’s tax and fee cuts are part of a series of comprehensive policies, and urged the departments involved to implement cuts in value-added tax, tax preferential policies for small and micro enterprises, reform in individual income tax, and the tax cut in social insurance contribution rates.
