The meeting joined 21 leading institutions and companies in the field of technology, finance, retailing and smart city, which included China Asset Management Co Ltd, JD, Tencent Holdings Ltd and Huawei Technologies Co, as well as Squirrel AI and Sinovation Ventures.
The measures were decided at an executive meeting of the Cabinet presided over by Premier Li Keqiang on Wednesday. According to a statement released after the meeting, earnings from the sectors will be exempted from value-added tax and enjoy a 10-percent reduction in taxable income between June 1 and the end of 2025. Those providing real estate or land for any related services will be exempted from deed tax, property tax, urban land use tax and six types of fees, including real estate registration fees.
The measure, which?passed the Senate in May and is now under consideration in the House,?is expected to pave the way to a more cohesive sales tax collection process, rather than what some view as a mishmash system that now varies by state.
The ministry is working with local education authorities to introduce more targeted measures, she said.
The marketing period for the sponsoring enterprises of Beijing 2022 runs across two Olympiads (2017-2024), covering multiple international sports events administered by the International Olympic Committee and International Paralympic Committee including Pyeongchang 2018, Tokyo 2020, Beijing 2022, and the Olympic and Paralympic Games in 2024.
The mayhem and destruction unleashed by rioters across vast areas on Hong Kong Island and in Kowloon in an orgy of unprecedented violence on Saturday left residents and tourists alike in a state of shock and horror.
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The ministry said that it was temporarily suspending market procurement trade for the sake of reinforcing medical product export quality supervision and will effect the exports of medical supplies through main commercial channels.
The meeting was aimed at ironing out the protocols, security measures and media coverage of the summit, the ROK's presidential office said.
The ministry believes the adjustment has driven up tourism spending, especially related to culture, food and rural leisure visits.
The meeting also called for the responsibilities of platforms to be defined more clearly and for measures to ensure that those engaged in wrongdoing - including online fraud, the leaking of users' information and unfair competition - can be held accountable.