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Looking back over the last five years, it is clear that the reform and development of public finance work in China has reached a new level, and that its role as the foundation of the country's governance has been effectively utilized. We constantly deepened the reform of the budgetary management system, made systematic headway in replacing business tax with VAT and in reforming excise tax and resource tax systems, and achieved major progress in building a modern fiscal system over five years of continuous refinement. In exercising macro regulation through fiscal policy, we paid great attention to keeping market expectations stable, unleashing internal forces for driving economic growth, and promoting structural improvements, and helped achieve a better-quality, higher-efficiency, and steadily operating economy by relying more heavily on market forces and adopting more reform measures. The wellbeing of our people has seen continual improvements, and we increased spending in related areas while working hard to improve related expenditure policies and institutional arrangements, emphasizing their public nature as well as increasing their sustainability. We established a general institutional framework for the management of local government debt, developed a clear picture of total outstanding debt, and carried out the systematic replacement of a portion of outstanding debt to ensure better overall control of debt-related risks.
"Party committees at all levels should [...] encourage forward thinking, praise outstanding work, but also tolerate mistakes and failures so all officials actively, voluntarily and creatively participate," it added.
The task will be carried out mainly in the capital's districts of Dongcheng, Xicheng, Chaoyang, Haidian, Fengtai and Shijingshan, where families will be relocated or see their homes renovated. Other work will be conducted in the suburbs, according to the Beijing Major Projects Construction Headquarters Office.
BEIJING, Feb. 19 (Xinhua) -- China will cut deed and business taxes for home purchases in most cities in an attempt to digest the property glut, an official statement said Friday.
"We're deeply concerned about the disaster situation. We express deepest sympathies to Taiwan compatriots affected by the quake and convey condolences to victims," Xi said in a statement.
来源：资阳报