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ed. A draft decision on establishing and imp

proving the ◆legal system and enforcement mechanisms for HKSAR has been subm◆itted to China's national legislature for deliberation. The pr◆emier added that the government will "resolutely oppose and det◆er any separatist activities seeking 'Taiwan independence'," an◆d pledged to continue to take measures to encourage cross-Strai◆ts exchanges and cooperation. He said comp

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"join us in opposing 'Taiwan independence

? and promoting China's reunification." Business and job supp◆ort Li emphasized the government would do its utmost to suppor◆t enterprises, stressing that micro, small and medium businesse◆s were in particular need of support in the context of the pand◆emic. The premier announced that exemptions introduced earlier◆ this year to help businesses through the pandemic, due to expi◆re by June, would be extended to the end of 2020 and said furth◆er cuts to taxes and fees of around 500 billion yuan (70.2 bill◆ion U.S. dollars) would be made. Corporate income tax payments◆ by micro and small businesses will also be postponed until 202◆1, as part of a series of measures Li said would result in savi◆ngs of 2.5 trillion yuan for enterprises this year. Loan paymen◆ts for micro, small and medium businesses will be postponed unL

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issue new loans to suc◆h firms. Li also sX

tressed that regulations should be tightened◆ to "prevent funds circulating in the financial sector for the ◆sake of arbitrage." Trillions in bonds Li announced a consume◆r price index target of 3.5 percent for 2020 and a deficit targ◆et of 3.6 percent of GDP, up from 2.8 percent last year, sugges◆ting room to maneuver in the pursuit of strengthened economic g◆rowth. He said the deficit would increase by one trillion yuan◆ on 2019 and a further one trillion yuan in government bonds wo◆uld be issued to fund COVID-19 control measures. The two trill◆ion yuan will be transferred directly to local governments and ◆used to support jobs, businesses and basic living requirements,◆ including "giving support to cut taxes and fees, reduce rents ◆and interest on loans, and increase consumption and investment.◆" An urban unemployment rate target of around six percent has b◆een set for 2020. The premier also warned that governments at ◆all levels needed to tighten their belts and committed the cent◆ral government to neD