Chinese PM: Fiscal, tax, financial reforms high on agenda

Chinese Premier Li Keqiang said Thursday that fiscal, tax and financial reforms had been set as a priority on the country's overall reform agenda in 2014. "In the course of comprehensively deepening reform, we certainly need to be focused on key reforms and initiatives and we need to see breakthroughs in key areas," Li said. "We will press ahead with fiscal, tax and financial reforms as our priorities this year," said the premier at a press conference shortly after the conclusion of China's annual legislative session. The authorities will continue to streamline administration and delegate power to ensure that the market fully play its role in an effective and well-regulated manner, he said. The premier also listed reforms in oter areas, including taking new steps to ease the tax burden of micro-and-small businesses, deepening reforms of state-owned enterprises, and vigorously developing mixed-ownership economy. Market access would also be eased, especially in the service sectors, such as healthcare, old-age support and financial services, so as tobring greater competition in the market, he said. "The ultimate goal of all the reforms is to fully energize the market and the creativity of society," said the premier. He warned that, "In the course of reforms, the vested interests will be shaken and some people's cheese will be moved." However, the country would "carry out the reforms without hesitation" in order to further release the dividends of reform and bring greater benefits to the people, he added. Since last year, the State Council had convened 40 executive meetings, 30 of which were directly related to reform topics, according to the premier