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China will spend nearly 2.7 trillion yuan (6 billion) on transportation infrastructure projects in 2020, according to Minister of Transport Li Xiaopeng on Thursday.

China's VAT rate structure was further cut from four to three tiers (6 percent, 11 percent and 17 percent) starting from July 2017, with tax rates for farm produce, tap water and books reduced from 13 to 11 percent.

China will stay committed to advancing reform. Reform is the fundamental driver of China's development. China will only speed up its market-oriented reforms. We will not slow down the pace of reform, let alone turn back. The Chinese government will continue to streamline administrative approval procedures, provide more efficient services, and slash the time required to start a business, get a permit or go through customs clearance. We will introduce tax cuts on a bigger scale and meaningfully lower fees, including the social security contribution rate. The reform to transform state-owned enterprises (SOEs) into standard companies and joint-stock companies has been basically completed. China's SOEs, many of which are publicly listed, run their operations in an open and transparent manner. It is entirely up to them to make their own business decisions, and they are responsible for any profits or losses. They do not enjoy any special subsidies.

China's central authorities has announced a grand plan to build the country's tropical resort island into a pilot international free-trade zone and a major port with the new policies that are expected to boost investment and growth in a wide range of sectors including agriculture, tourism, finance, sports and entertainment.

China will remain a competitive supply chain choice for Saint-Gobain, he said, adding the company is looking forward to greater investment and development in research and development, production and sales. It has great expectations for continued recovery of China's economy as well as the continuous improvement of China's business environment.