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The article aims to send a clear signal that the CPC gives full support to those who are bold in taking reforms, said Liu Zhibiao, a member of the Chinese People's Political Consultative Conference (CPPCC) National Committee.
Efforts were also made to improve transparency. Through a website supervised by the SPP, prosecuting offices nationwide regularly updated the development of cases and legal documents so that the involved parties can follow the process and the public can search for relevant information.
In responding to the mounting downward pressure on the economy, we exercised targeted and well-timed regulation on the basis of range-based regulation. We adopted proactive fiscal policy that focused on increasing intensity and efficacy by expanding the scope of structural tax reductions, reducing fees across the board, and putting dormant budgetary funds to good use. Local government bonds issued to replace outstanding debt reached 3.2 trillion yuan, lessening the interest payment burden of local governments by approximately 200 billion yuan while also reducing their debt repayment pressure. We pursued prudent monetary policy with an appropriate amount of intensity, making several cuts to interest rates and required reserve ratios, reforming management of the loan-to-deposit ratio, creating new monetary policy tools, and increasing support for the real economy. Effective investment increased, special-purpose funds were established, and development was strengthened in areas in need of attention, including water conservancy, rundown urban areas and dilapidated rural housing, and railways and highways in the central and western regions. Consumer spending was promoted in key areas, spurring rapid growth in spending on recreational travel, online shopping, and information goods and services. In 2015, we also responded proactively to a variety of risks and challenges in the financial sector, such as unusual fluctuations in the stock market and the foreign exchange market, ensuring that no systemic or regional threats arose, thus safeguarding China's economic and financial security.
Hung also said that she hopes both parties continue to uphold the 1992 Consensus, further strengthen mutual trust and cooperation, and push forward the innovation of exchange platforms.
During the talks between the two foreign ministers earlier on Thursday, Wang dubbed the resumption of the diplomatic ties as an "historic moment" for the two nations.