asures as reducing the rate of the value-added tax, increasing the
tax exemption for research costs and reforming individual income tax.
The measures should not only ease the tax burden for manufacturing com
panies but also reduce taxes for construction enterprises, which provide a great num
ber of jobs, Li said, adding that all industries should be covered by the benefits of tax cuts.
Li pledged 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 measures to deepen reform 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.