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"Public goods and final demand are key areas in boosting investment. In delivering safe drinking water in rural areas, the government must set appropriate standards, work within its capacity, and leverage the role of the market." Li said.

Qu, 56-year-old, pledged to work at the best of his efforts "for the people and the farmers" in his four-year mandate.

It was decided in the guideline to set the transfer ratio at 10 percent of these enterprises' state-owned equity, with the exception of state-owned enterprises serving public interest, cultural enterprises, policy and development financial institutions and those otherwise stipulated by the State Council.

So far, various types of social insurance funds are in steady operation, and are competent in ensuring payments on time and in full. Policies to reduce social security contribution rates delivered notable effects in the first half of this year, as companies saw their spending on workers' basic pensions, unemployment insurances and work-related injury insurances decreased by over 128 billion yuan (about 18.5 billion U.S. dollars).

On behalf of the Communist Party of China (CPC) Central Committee and the State Council, Xi, also general secretary of the CPC Central Committee, expressed a warm welcome and sincere congratulations to the representatives and extended greetings to overseas Chinese around the world.