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Second, we deepened tax reforms. We carried out research on a plan for implementing trials of replacing business tax with value added tax (VAT) in all sectors and a reform plan for taxing personal income on the basis of both adjusted gross income and specific types of income. We further expanded the coverage of ad valorem taxation, extending it to the reform of resource taxes on rare earths, tungsten, and molybdenum. We carried out research relating to the excise tax reform plan and improved excise tax policies. We intensified efforts to review and standardize fees and charges levied on businesses.

-- Encouraging progress was made in structural adjustment.

Reforms of the fiscal and tax systems have been deepened.

Efforts should focus on raising the urbanization rate based on the number of registered urban residents, providing equal public services for rural and urban dwellers, and making cities more people-friendly, Xi said.