China to introduce stronger tax, fee reduction measures in due course
China will introduce and implement more powerful tax and fee reduction measures in due course, Chinese Premier Li Keqiang said Tuesday, while addressing the World Economic Forum (WEF) Special Virtual Dialogue with Global Business Leaders via video link.
China's economy has maintained its recovery trend this year, though it has encountered new downward pressures, Li said, adding that the fundamentals of the economy are unchanged.
"The resilience and vitality of China's economy lie in its 150 million market entities, which strongly support the country's basic employment," he said.
Li reiterated that China will stabilize macroeconomic operations, strengthen cross-cyclical adjustments, resolutely refrain from flooding the Chinese economy with liquidity and ensure that economic operations are within a reasonable range.
Noting the repeated resurgence of COVID-19, which adds uncertainty and instability to global economic recovery, Li said China is willing to join hands with other countries to keep industrial and supply chains running and make trade and investment more convenient.
Meanwhile, China will enhance international coordination regarding macro policies, promoting the recovery of the global economy, he said.
Li emphasized that China will unswervingly expand opening-up, protect intellectual property rights in accordance with the law, and treat all market players equally.
Regarding the issue of energy supply, Li said that the shortage of energy supply, such as electricity and coal, has been effectively alleviated, and the future supply is guaranteed.
China will advance carbon transition in a balanced and orderly manner, based on the actual conditions of the country and in the premise of ensuring a stable and safe energy supply, he added.