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He called for honest, sincere and clean contact between officials and business people, which would ensure a good environment and provide more opportunities for the private sector.

In order to "host an Olympics as pure and clean as snow", Xi said, the budget should be more carefully reviewed, the costs be controlled and supervision be strengthened.

2) Fiscal, tax, and financial reforms were steadily pushed forward. We made further improvements to the system of transfer payments to local governments, launched reform of the administration system for tax collection, extended the price-based resource tax to cover more types of resources, and registered steady progress in replacing business tax with VAT. Policies promoting the development of inclusive finance, Internet finance, and private banks were published and implemented, floating limits on interest rates on deposits were abolished, and most controls over interest rates were lifted. The deposit insurance system was officially implemented. The mechanism for determining the central parity of RMB exchange rate was improved, and the RMB was included in the International Monetary Fund' s special drawing rights (SDR) basket. Fresh progress was made in the reform of policy-backed financial institutions and developmental financial institutions. Effective measures were taken to prevent the occurrence of systemic financial risks.

BEIJING, Feb. 21 (Xinhua) -- A cold front will hit most of China, bringing strong winds and low temperatures over the next three days, the National Meteorological Center (NMC) said on Sunday.

The event, at the Civic Centre in Newcastle, had also been chosen to mark the North-East China Business Forum, hosted by Northumbria University's Newcastle Business School.