Premier Li urges solid efforts to accomplish annual target, tasks

Chinese Premier Li Keqiang on Wednesday urged solid efforts to complete the development target and tasks set for this year, according to a State Council executive meeting.

Chinese Premier Li Keqiang chairs a plenary meeting of the State Council which discusses a draft version of the government work report and analyzes economic work in the first quarter of 2019 in Beijing on January 14, 2019. [File photo: gov.cn]

Government departments should introduce detailed measures as soon as possible to accomplish key tasks including deepening reform and opening-up, streamlining administration and cutting taxes and fees, according to a document issued after the meeting.

The meeting, chaired by the premier, stressed the implementation of policies and work plans that were previously made and called for the efficient allocation of funds to support the policies.

The meeting clarified measures to reduce the value-added taxes, decided to extend some tax incentives that were due, and announced tax breaks to firms with expenditures on poverty alleviation and pollution control.

From Jan. 1, 2019 to the end of 2022, company spendings on donations to specific impoverished regions will be deducted from its taxable income, the document said.

From Jan. 1, 2019 to the end of 2021, corporate income tax rate for third party pollution prevention and control companies will be reduced to 15 percent, according to the document.