The report is set to be delivered to the annual session of the National People's Congress, which had delayed its opening from March 5 to May 22 due to the COVID-19 pandemic.
The regulator will continue to contain financial risks, curb shadow banking, prevent loans from flowing into the property sector in an improper way and prevent hidden debt risks, said Huang.
The remaining 424.6 billion yuan of taxes and fees were reduced as a result of the implementation of a larger scale of tax and fee cut policies rolled out last year.
The report comes as Washington is considering a broad tariff plan against Chinese imports, raising wide concerns about escalating trade tensions between the world's two largest economies.
The regional government started the Pure Land project in 2013. The area produces maca, a root vegetable native to the South American Andes; snow chrysanthemum, which is used mainly for tea; organic grapes, peaches and roses; ingredients for traditional Tibetan medicine; organic meat, and dairy products.
The regulation says that makers of the rocket, engine or any part containing explosive or inflammable substances must obtain approval from related authorities before starting their operations.
山东神经性耳聋 能治好吗
The report is also a political declaration and action plan to direct the Party and people of all ethnic groups to move forward the socialism with Chinese characteristics to a new era, he said.
The region's poverty relief has paid off. By the end of 2018 the region's 55 counties were lifted out of poverty, with the region's poverty-stricken population decreased from 590,000 in 2015 to 150,000 by the end of 2018, and a poverty rate decrease to below six percent.
The regulation took effect on May 13, 2019.
The regulations also encourage institutions and individuals to import crop germplasm resources from abroad in accordance with the law, and require Hainan's agricultural authorities to strengthen cooperation with foreign germplasm resource agencies to speed up the construction of a transit base for the introduction of crop germplasm resources, which is one of the missions set by the central government for Hainan to develop as a free trade zone on the whole Hainan Island.