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The mechanism had slashed taxes by over 440 billion yuan (about 62.5 billion U.S. dollars) for 250 million taxpayers in the first nine months of this year, according to a statement released after a State Council executive meeting chaired by Premier Li Keqiang Wednesday.

While continuously accelerating the construction of a market-oriented, law-based and internationalized business environment, streamlining administrative procedures and improving enterprises' innovation capabilities, China should boost the development of the industrial internet and facilitate the upgrading and transformation of manufacturing companies, Li said.

It is an important political task to put into action the guiding principles from the plenary session, You said at the symposium, calling for efforts to better grasp the essence of the key CPC meeting and implement the major decisions and plans of the CPC Central Committee on the united front work.

No matter how external circumstances change, Nepal's friendly policy toward China as well as the development of their friendly relations will remain unchanged, Oli said.

Li stressed promoting talent training, scientific and technological innovation, and research and development of medicines.