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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 unt◆il March and banks will be encouraged to issue new loans to suc◆h firms. Li also stressed that regulations should be tightened◆ to "prevent funQ

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ds 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◆tingW

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March 27, 2048

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room to maneuver in the pursuit of strengthened economic g◆rowth. He said the deficit would increase by one trillion m

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March 17, 2048

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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◆iol

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n yuan will be transferred directly to local governments and ◆used to support jobs, buS

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sinesses and basic living requirements,◆ including "giving support to cut taxes aR

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nd fees, reduce rents ◆and interest on loans, and increase consumption and investmeno

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