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As part of efforts to implement blueprints set out by the Central Economic Work Conference and the Government Work Report, the annual taxable income threshold of small and micro businesses eligible for halved income tax will be raised from 500,000 to 1 million yuan. The per unit value of newly-purchased research and development (R&D) instruments and equipment eligible for one-time tax deduction will be raised from 1 million to 5 million yuan.

With a theme of "carrying on the 'Shanghai Spirit' and ushering a new era for media cooperation," the summit was hosted by the Information Office of the State Council and attracted over 260 attendees, including officials, leaders and representatives of media outlets.

"China will do follow-up work together with the Dominican side to constantly enhance political mutual trust, strengthen exchanges, expand mutually beneficial cooperation, and promote the building of a new type of international relations and a community with a shared future for humanity, thus writing a new chapter in the history of our bilateral relations," Wang said.

Portugal and China enjoy the benefit of a profound friendship and the common vision of strengthening mutual cooperation, said the president, adding that Portugal is willing to make joint efforts with China and forge ahead along the road of mutual cooperation.

Xi, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, made the remarks at a symposium on promoting the development of the Yangtze River economic belt in Wuhan, capital of central China's Hubei Province.