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e new measures wou??ld be implemented to hel6

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p ease and raise capacity of ??international trade. Hong Kong and national security?? Li confirmed "sound legal systems and enforcement m??echanisms for safeguarding national security" would b??e established in the Hong Kong and Macao special admi??nistrative regions and stressed that the "One Country??, Two 7

Systems" policy would be "fully and faithfully"?? implemen2

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ted. A draft decision on establishing and i??mproving the legal system and enforcement mechanisms ??for HKSAR has been submitted to China's national legi??slature for deliberation. The premier added that the?? government will "resolutely oppose and deter any sep??aratist activities seeking 'Taiwan independencY

e'," an??d pledged to continue to take measures to encouraq

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ge c??ross-Straits exchanges and cooperation. He said com??patriots in Taiwan would be encouraged to "join us in?? opposing 'Taiwan independence' and promoting China's?? reunification." Business and job support Li empha??sized the government would do its utmost to support e??nterprises, stressing that microl

, small and medium bu??sinesses were in particular need ofG

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support in the co??ntext of the pandemic. The premier announced that ex??emptions introduced earlier this year to help busines??ses through the pandemic, due to expire by June, woul??d be 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. dolp

lars) would be made. Corporate incom??e tax payments by miu

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cro and small businesses will als??o be postponed until 2021, as part of a series of mea??sures Li said would result iI

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n savings of 2.5 trillion?? yuan for enterprises this year. Loan payments for mi??cro, small and medium businesses wilV

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l be postponed un??til March and banks will be encouraged to issue new l??oans to such firms. Li also stressed that reT

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gulation??s should be tightened to "prevent funds circulating i??n the financial sector for the sake of arbitrage." T?S

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?rillions in bonds Li announced a consumer price inde??x target of 3.5 percent for 2020 and a deficit target?? of 3.6 a

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percent of GDP, up from 2.8 percent last year??, suggesting room to maneuver in the pursuit of stren??gthened economicY

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growth. He said the deficit would i??ncrease by one trillion yuan on 2019 and a further on??e trillion yuan in govern8

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ment bonds would be issued t??o fund COVID-19 control measures. The two trillion y??uan will be transferred directly tT

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o local governments?? and used to support jobs, businesses and basic livin??g requirements, including "giving support z

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to cut taxe??s and fees, reduce rents and interest on loans, and i??ncrease consumption and investment." An urban unems

monetary policy more flexible this year. Chin??a-U.S. trade Li said China remaiY ned committed to op??ening its doors to the outside world in a complex int??erna7 tional environment and would continue to work wi0 t??h the United States to implement the first ph1 ase of t??he economic and trade agreement betwee6 n the two count??ries. The premier added that ef3
    forts to completp
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    rehensive Economic Partnership would co? ?ntinue and free trade negotiations with Japan, 0 South ??Korea and other countries would F be advanced. He also?? said the negativeU list for foreign investment will b??e "0 significantly shortened" and som0