Fiscal deficit ratio 财政赤字率
China will raise its fiscal deficit target to 2.76 trillion yuan, or 2.8 percent of GDP, this year from 2.6 percent in 2018.
The measure is being taken to stabilize economic growth by enlarging government spending. As a major measure to tackle economic risks, the proactive fiscal policy in 2019 will become stronger and more efficient.
Total government expenditure is budgeted at over 23 trillion yuan, up by 6.5 percent from last year.
Corporate burdens 企业负担
China aims to reduce the tax burdens and social insurance contributions of enterprises by nearly 2 trillion yuan ($298.3 billion) in 2019, as part of its broader push to promote manufacturing and fuel the growth of small and micro businesses.
The government will deepen the value-added tax reform, reducing the current rate of 16 percent in manufacturing and other industries to 13 percent, and lower the rate in the transportation, construction, and other industries from 10 to 9 percent.
Broadband, mobile internet rates 宽带移动网络速率
China will further cut the rates for broadband and mobile internet services, as the nation steps up push to nurture innovation and speed up the growth of emerging industries.
China will speed up broadband and lower internet rates, with measures including launching demo projects to extend 1,000M broadband connectivity into urban homes, upgrade networks for telemedicine and online education.
This year, average broadband service rates for small and medium enterprises will be lowered by another 15 percent, and average rates for mobile internet services will be further cut by more than 20 percent.
Green measures 绿色发展
China will pursue both high-quality development and environmental protection by reforming and refining relevant systems. Green development is a critical element of modernizing an economy and a fundamental solution to pollution.
“We will strengthen pollution prevention and control, enhance ecological improvement, and make big advances in green development,” the report said.
Elderly care sector 养老服务业
China will take significant steps to develop the elderly care sector, especially community services, in 2019 as the number of people aged 60 and above has reached 250 million.
The country will provide support to institutions offering services in communities, like day care, rehabilitation, assisted meals and assisted mobility, by using measures such as tax reductions, fee cuts and exemptions, funding support, and reduced charges for water, electricity, gas and heating.