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MULTAN, Pakistan, May 27 (Xinhua) -- Pakistani Prime Minister Shahid Khaqan Abbasi on Saturday inaugurated the first section of the 392-km Multan-Sukkur Motorway, the largest transportation infrastructure project under the China-Pakistan Economic Corridor (CPEC) in Multan in the country's eastern Punjab province.

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.

This is the third time the State Council put the lowering of financing costs for small and micro businesses on the agenda of its weekly executive meeting since the new government assumed office in March. The establishment of a state financing guaranty fund was announced at the meeting on March 28 to help ease financing difficulties for small and micro businesses, farmers, agriculture and rural development. And banks will henceforth be evaluated for their performance on inclusive finance to ensure lower financing costs for the real economy this year, as was decided at the meeting on April 25.

Noting that the development of universities and the nation complement each other, Xi stressed that more efforts should be spent on nurturing world-class universities, but foremost with Chinese characteristics.

"Leading officials should take the lead, discipline be observed and a good work ethic enforced to ensure the task is accomplished in time and in full," it said.