Li Keqiang presided over a forum on tax reduction and fee reduction in some localities-Shanghai Metals Market

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Li Keqiang presided over a forum on tax reduction and fee reduction in some localities

Translation 09:13:04PM May 24, 2019 Source:Chinese government network

SMM News: Li Keqiang stressed at the forum on tax reduction and fee reduction in some localities

Make sure that tax cuts and fees are in place with the government living a tight life

Greater stimulation of market vitality and better protection of basic people's livelihood

On 24 May, Li Keqiang, member of the standing Committee of the political Bureau of the CPC Central Committee and premier of the State Council, presided over a forum on tax reduction and fee reduction in some localities in Jinan, Shandong Province, and planned to further implement various policies on tax reduction and fee reduction.

At the forum, Liu Jiayi, secretary of the Shandong Provincial CPC Committee, Gong Zhenghe, governor of Shandong, Xu Qin, governor of Hebei, Wu Zhenglong, governor of Jiangsu, Tang Dengjie, governor of Fujian, Chen Runer, governor of Henan, and Chen Yiqin, governor of Guizhou, spoke. We all reflected that the tax cuts and fees have been greatly reduced and the benefits extended to a wide range of areas, which has obviously reduced the burden on the main body of the market, increased the income of residents, and played an important role in stabilizing expectations and growth. Li Keqiang has in-depth exchanges with you.

Li Keqiang said: since the beginning of this year, the situation facing China's economic development has been complex and serious.Although the first quarter started well, the steady operation of the economy has not yet been stable, especially in the face of increasing external uncertainties and challenges. It is necessary to persist in taking Xi Jinping's thought of socialism with Chinese characteristics in the new era as the guide, step up the implementation of the decision-making arrangements of the CPC Central Committee and the State Council, and do a good job in the work of "six stability" as a whole. We will rely on reform and opening up to stimulate the vitality of the real economy, release the potential of domestic demand, strengthen the driving force for development, overcome difficulties and challenges, and do our own things well, so as to lay a more solid foundation for achieving relatively full employment and steady and healthy economic development.

Li Keqiang pointed out: hundreds of millions of market players are the "mainstay" of stable employment and the "engine" of growth, ensuring that larger tax cuts and fees are in place, stimulating the vitality of market players, and having a bearing on the overall economic and social situation. First, we must calculate the current account and long-term account. Although the tax reduction and fee reduction will reduce the immediate fiscal revenue, it will enhance the confidence and motivation of enterprises to invest and develop, drive the expansion of employment, and ultimately achieve sustained economic growth and the continuous expansion of tax sources. We must work together to do a good job of this event, to ensure that the tax burden in all industries will only be reduced and not increased, and in particular to ensure the stability of the price of agricultural materials. Second, it is necessary to do a good job in calculating the central and local accounts. In order to reduce taxes and fees, the central government has made full preparations, and through various measures, such as increasing the profits of specific financial institutions and central enterprises, and increasing local transfer payments, we can balance the country's large revenue and expenditure account. From a local point of view, there are also conditions to overcome difficulties and achieve tax cuts and fees and fiscal balance. All localities should tap their potential and support tax reduction and fee reduction by invigorating the stock of financial funds and government assets, increasing the profits of local state-owned enterprises, and so on, so as to increase the available financial resources. We must not make changes by increasing the burden on enterprises to ease the pressure on fiscal revenue and expenditure. With regard to the special difficulties encountered in a small number of places in the course of implementation, the central finance will provide assistance as a whole. It must be stressed that governments at all levels must not just talk about living in a tight life, but must make a good "iron abacus" in administrative expenditure, be a good "iron rooster", and earnestly guarantee such expenditures as "ensuring wages, ensuring operation, and safeguarding basic people's livelihood," and so on. Not a penny of the money that should not be spent can be spent, and the money saved should be used to support key construction and the improvement of people's livelihood.

Li Keqiang said: China's economy is very resilient, and there is still room for policy tools to be used in macro-control. At present, in order to implement the policy of tax reduction and fee reduction on a larger scale, the next step is to relax the conditions, optimize the process, and study and improve the support policy for R & D and innovation of enterprises. All regions and departments should follow up and analyze the economic operation and the problems encountered in the implementation of policies, improve the corresponding measures, and turn policy dividends such as tax reduction and fee reduction into the driving force for optimizing the economic structure and expanding effective demand. We will ensure the smooth operation of the economy and the continuous improvement of people's livelihood, and make new achievements in promoting high-quality development.

Xiao Jie attended the forum.

 

Li Keqiang presided over a forum on tax reduction and fee reduction in some localities

Translation 09:13:04PM May 24, 2019 Source:Chinese government network

SMM News: Li Keqiang stressed at the forum on tax reduction and fee reduction in some localities

Make sure that tax cuts and fees are in place with the government living a tight life

Greater stimulation of market vitality and better protection of basic people's livelihood

On 24 May, Li Keqiang, member of the standing Committee of the political Bureau of the CPC Central Committee and premier of the State Council, presided over a forum on tax reduction and fee reduction in some localities in Jinan, Shandong Province, and planned to further implement various policies on tax reduction and fee reduction.

At the forum, Liu Jiayi, secretary of the Shandong Provincial CPC Committee, Gong Zhenghe, governor of Shandong, Xu Qin, governor of Hebei, Wu Zhenglong, governor of Jiangsu, Tang Dengjie, governor of Fujian, Chen Runer, governor of Henan, and Chen Yiqin, governor of Guizhou, spoke. We all reflected that the tax cuts and fees have been greatly reduced and the benefits extended to a wide range of areas, which has obviously reduced the burden on the main body of the market, increased the income of residents, and played an important role in stabilizing expectations and growth. Li Keqiang has in-depth exchanges with you.

Li Keqiang said: since the beginning of this year, the situation facing China's economic development has been complex and serious.Although the first quarter started well, the steady operation of the economy has not yet been stable, especially in the face of increasing external uncertainties and challenges. It is necessary to persist in taking Xi Jinping's thought of socialism with Chinese characteristics in the new era as the guide, step up the implementation of the decision-making arrangements of the CPC Central Committee and the State Council, and do a good job in the work of "six stability" as a whole. We will rely on reform and opening up to stimulate the vitality of the real economy, release the potential of domestic demand, strengthen the driving force for development, overcome difficulties and challenges, and do our own things well, so as to lay a more solid foundation for achieving relatively full employment and steady and healthy economic development.

Li Keqiang pointed out: hundreds of millions of market players are the "mainstay" of stable employment and the "engine" of growth, ensuring that larger tax cuts and fees are in place, stimulating the vitality of market players, and having a bearing on the overall economic and social situation. First, we must calculate the current account and long-term account. Although the tax reduction and fee reduction will reduce the immediate fiscal revenue, it will enhance the confidence and motivation of enterprises to invest and develop, drive the expansion of employment, and ultimately achieve sustained economic growth and the continuous expansion of tax sources. We must work together to do a good job of this event, to ensure that the tax burden in all industries will only be reduced and not increased, and in particular to ensure the stability of the price of agricultural materials. Second, it is necessary to do a good job in calculating the central and local accounts. In order to reduce taxes and fees, the central government has made full preparations, and through various measures, such as increasing the profits of specific financial institutions and central enterprises, and increasing local transfer payments, we can balance the country's large revenue and expenditure account. From a local point of view, there are also conditions to overcome difficulties and achieve tax cuts and fees and fiscal balance. All localities should tap their potential and support tax reduction and fee reduction by invigorating the stock of financial funds and government assets, increasing the profits of local state-owned enterprises, and so on, so as to increase the available financial resources. We must not make changes by increasing the burden on enterprises to ease the pressure on fiscal revenue and expenditure. With regard to the special difficulties encountered in a small number of places in the course of implementation, the central finance will provide assistance as a whole. It must be stressed that governments at all levels must not just talk about living in a tight life, but must make a good "iron abacus" in administrative expenditure, be a good "iron rooster", and earnestly guarantee such expenditures as "ensuring wages, ensuring operation, and safeguarding basic people's livelihood," and so on. Not a penny of the money that should not be spent can be spent, and the money saved should be used to support key construction and the improvement of people's livelihood.

Li Keqiang said: China's economy is very resilient, and there is still room for policy tools to be used in macro-control. At present, in order to implement the policy of tax reduction and fee reduction on a larger scale, the next step is to relax the conditions, optimize the process, and study and improve the support policy for R & D and innovation of enterprises. All regions and departments should follow up and analyze the economic operation and the problems encountered in the implementation of policies, improve the corresponding measures, and turn policy dividends such as tax reduction and fee reduction into the driving force for optimizing the economic structure and expanding effective demand. We will ensure the smooth operation of the economy and the continuous improvement of people's livelihood, and make new achievements in promoting high-quality development.

Xiao Jie attended the forum.