国内英语资讯:Premier Li holds dialogue with representatives attending Summer Davos_时事

国内英语资讯:Premier Li holds dialogue with representatives attending Summer Davos

In the first half of this year, the profits of industrial enterprises increased by 15 percent, and there was a drastic rise in the number of market entities and sources of taxes.

As the effects of tax reduction policies started to kick in at the beginning of the second half of 2018, growth in the tax revenues of central and local governments have both been reduced.

"For the next step, we are going to reduce taxes and fees on a grander scale, including cuts in social security fees, which will unburden enterprises and facilitate their development," he said.

Special deductions of personal income tax should be implemented evenly and conveniently to elevate the purchasing power of residents. The government shall practice austerity, refrain from disturbing enterprises and help people live a better life, he noted.

In terms of entrepreneurship and IPR protection, Li said that fostering an innovative society needs to unleash the creativity of everybody.

A series of measures have been taken to ensure everyone enjoys equal opportunity in innovation, to inspire large enterprises to develop their own makerspaces and to welcome the participation of foreign entrepreneurs in China's development.

Using IPR protection as the foundation for the development of an innovative economy, China would intensify IPR protection as well as the punishment over IPR infringement, Li said.

Last year, Chinese companies took the lead in their spending on foreign patent licensing fees and royalties, he noted. "We will not allow any forced IPR transfer."