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Second, we deepened tax reforms. We carried out research on a plan for implementing trials of replacing business tax with value added tax (VAT) in all sectors and a reform plan for taxing personal income on the basis of both adjusted gross income and specific types of income. We further expanded the coverage of ad valorem taxation, extending it to the reform of resource taxes on rare earths, tungsten, and molybdenum. We carried out research relating to the excise tax reform plan and improved excise tax policies. We intensified efforts to review and standardize fees and charges levied on businesses.

In 2009, March 28 was designated as the day to mark the freeing of 1 million people, or 90 percent of the region's population at that time, from the feudal serf system in 1959.

The new law, which came after 10 years in the making, eases restrictions on fundraising by and operation of charity groups, promises tax benefits, and tightens supervision over their governance.

Only by accepting the 1992 Consensus and recognizing its core implications can the two sides have a common political foundation and maintain good interactions, Xi said.

The country has made de-stocking the property inventory one of this year's major economic tasks, as an ailing housing market could derail the economy, which is growing at the slowest rate in a quarter of a century.