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China has projected deficit-to-GDP ratio at more than 3.6 percent this year in its Government Work Report, as an indication of its proactive fiscal policy. It will also look to increase government spending to offset the downside economic pressure. Cutting taxes and fees will help ease the operational difficulties of businesses, while the central government's payment transfers to the local authorities will guarantee the management of primary-level governments, the minister said.
China has survived many adversities in the past decades, he said, and the short-term revenue decrease caused by the COVID-19 outbreak will be "offset by the Chinese government's fiscal and monetary stimulus policies which will revive the production cycle."
China has used the 2005 height as the official standard since it was made public in October that year.
China is expected to overtake the United States as the largest fashion market in 2019, according to a report by McKinsey & Company and media outlet The Business of Fashion.
China is improving the implementation of export tax rebates, tapping the potential of customs clearance reform and optimizing services for enterprises amid efforts to stabilize foreign trade and investment.
来源：资阳报