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China is set to boost the civil aviation industry to create a market that is expected to be worth more than 1 trillion yuan (158.6 billion dollars) by 2020.
No separate tax registration will be required and no separate social insurance registration certificate issued for companies that have obtained business licenses with unified social credit codes. The amount of time needed for invoice application and social insurance registration will also be reduced.
On this background, Xi and Modi decided to hold this informal meeting, which will help deepen mutual trust between the two leaders, make strategic judgement on the world pattern and China-India relations, and guide the two countries to set new goals and open up new prospects for the the bilateral ties, Wang said.
In his Government Work Report delivered in March this year, Premier Li said that the government will further lighten the corporate tax burden. Far greater numbers of small low-profit businesses will see their income tax halved and the ceilings on deductible business purchases of instruments and equipment will be significantly raised. The pilot preferential tax policies for venture capital investment and angel investment will be extended nationwide, he said.
About 5 million disabled people have shaken off poverty in the last five years, Guo Liqun, a publicity official with the CDPF, said at a press conference.
