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China reduced taxes and fees by 2.36 trillion yuan in 2019, beyond the annual target of 2 trillion yuan, with manufacturing and micro and small businesses being the major beneficiaries. This year, the target is to make further tax and fee cuts of about 500 billion yuan, according to the Government Work Report for 2020.
China will continue to give firm support to the WTO in playing a greater role in global economic governance, it says.
China stood out among major economies to register a 3.2 percent year-on-year growth in the second quarter, versus a 6.8 percent contraction in the first quarter, bringing hopes that the world's second-largest economy－if it continues to fare well－will help boost the global economy.
China may soon establish an independent deposit insurance agency covering financial institutions that accept deposits from the public, according to some knowledgeable policy advisers.
China said it is regrettable that tensions on the Korean Peninsula have intensified after a period of stability, and called for parties to abide by UN Security Council resolutions.
来源：资阳报