aithfully"?? implemented. A draft decision on establishing and i??mproving the legal system and enforcX

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    ement mechanisms ??for HKSAR has been submitted to China's national legi??slature for deliberap

??

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tion. The premier added that the?? government will "resolutely oppose and deter any se7

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p??aratist activities seeking 'Taiwan independence'," an??d pledged to continue to takO

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e measures to encourage c??ross-Straits exchanges and cooperation. He said com??patri0

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ots in Taiwan would be encouraged to "join us in?? opposing 'Taiwan independence' and 5


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    promoting China's?? reunification." Business and job support Li empha??sized the government would do its utmost to support e??nterprises, stressing that micro, small and medium bu??sinesses were in particular need of support in the co??ntext of the pandemic. The premier announced that ex??emptions introduced earlier this year to help busines??ses through the R

    pandemic, due to expire by June, woul??d be z

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    extended to the end of 2020 and said further cut??s to taxes and fees of around 500 billion yuan (70.2 ??billion U.S. dollars) would be made. Corporate incom??e tax payments by micro and small businesses will als??o be postponed until 2021, as part of a series of mea??sures Li said would result in savings of 2.5 trillion?? yuan for enterprises this year. Loan v

    payments for mi??cro, small and medium businP

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    esses will be postponed un??til March and banks will be encouraged to issue new l??oans to such firms. Li also stressed that regulation??s should be tightened to "prevent funds circulating i??n the financial sector for the sake of arbitrage." T??rillions in bonds Li announced a consumer price inde??x target of 3.5 percent for 2020 and a deficit target?? of 3.6D

    percent of GDP, up from 2.8 percent last yeh


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Fire Breathing Cats!

ar??, suggesting room to maneuver in the pursuit of stren??gthened economic growth. He said the deficit would i??ncrease by one 7

trillion yuan on 2019 and a further on??e trillion yuan in govee

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rnment bonds would be issued t??o fund COVID-19 control measures. The two trillion y??uan will be transferred directly to local 5

governments?? and used to support jobs, businesses and basic li6

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vin??g requirements, including "giving support to cut taxe??s and fees, reduce rents and interest on loans, and i??ncrease consu2

mption and investment." An urban unemplo??yment rate target of 5

Fire Breathing Cats!

around six percent has been set ??for 2020. The premier also warned that governments a??t all levels needed to tighten their bela

ts and commit??ted the central government to negative growth in2


/ countries would be advanced. He also?? sc aid the negative list for foreign invest1 ment will b??e "significantly shortened"O and some new measures wou??ld be implemf ented to help ease and raise capacity ofe ??international trade. Hong Kong and naH
    tional security?? e
    Li confirmed "sound lI
    egal systems and enforcement m??echanism9 s for safeguarding national security" wo1 uld b??e established in the Hong Kong anS d Macao special admi??nistrative regionsN and stressed that the "One Country??, Tv wo Systems" policy would be "fully and fx