Highlights of 2020 Government Work Report

- China will work to improve the consumption willingness and capabilities of domestic residents and support the recovery and development of consumer service sectors.

- China aims to reduce corporate burden by more than 2.5 trillion yuan (about $353 billion) throughout the year.

- China will continue to foster an enabling environment for the development of the private sector and ensure private businesses have equal access to production factors and policy support.

The country will review relevant regulations to abolish those that unfairly differentiate enterprises according to ownership forms.

Deadlines will be set for government bodies to make overdue payments owed to private and small and medium-sized businesses.

- China will increase financial support to keep business operations stable. Large commercial banks should increase inclusive finance lending to micro and small businesses by more than 40 percent.

- China will fully advance Internet Plus initiatives across the board and create new competitive strengths in the digital economy.