The contribution of scientific and technological progress to China's economic growth rose to 57.5 percent in 2017 from 52.2 percent in 2012.
The country should also leverage more effective fiscal and financial policies to help the Chinese economy weather the current global financial storm triggered by the US stock market turbulence.
The country has vowed to speed up the formulation and improvement of relevant standards for identifying counterfeiting, patent, trademark and copyright infringements, strengthen its campaign against intellectual protection right violations and impose heavy penalties on all types of breaches.
The country has 13.814 million people registered as living below the poverty line, among them 3.34 million are children, taking up nearly a quarter of the population.
The country rolled out a new batch of tax breaks for smaller businesses, including lower tax rates, higher tax thresholds and favorable policies for investors of tech startups.
The cooperation is expected to help better align China’s Belt and Road Initiative with Kazakhstan's new economic policy Nurly Zhol (Bright Path), strengthen China-Kazakhstan bilateral ties in key areas, advance Kazakhstan's financial reforms and the development of its capital market, and provide incentive for Kazakhstan's social and economic progress, according to a spokesman from the fund.
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The conference is the first large-scale international investment promotion event held in Guangzhou since the COVID-19 outbreak.
The countries will build on the existing Japan-EU deal, with Tokyo looking to scrap auto tariffs while London has said it wants benefits for its financial services and textile industries.
The country will pursue supplyside structural reform as the main task while emphasizing demandside management in 2021, to create a dynamic balance between supply and demand based on higher standards, according to the annual Central Economic Work Conference, which concluded on Friday.
The country will further expand market access with a nationally unified, annually released and timely adjusted negative list for more market vitality, according to the National Development and Reform Commission, China's top economic regulator.