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The government will keep the lowest bracket tax rate of 6 percent unchanged, while adopting supporting measures such as increased tax deductions for producer and consumer services to lessen the tax burden on all industries and move toward cutting the number of VAT brackets from three to two and simplifying the VAT system.

The founder of Chinese internet giant Leshi, also known as LeEco, has stepped down as the legal representative of the company, as the tech conglomerate continues to struggle with a cash crunch.

The forum, which was initiated in 2018 by the Hong Kong-based World Laureates Association (WLA) and organized by the Shanghai government, is focused on boosting science development, international cooperation and young talent development.

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The gigafactory in Shanghai can produce 3,000 vehicles per week and will double its production capacity this year. In Tesla's financial report, it believes that China could become the biggest market for Model 3.

The government will monitor the implementation of midterm and long-term contracts by relevant companies, rewarding honest enterprises and punishing dishonest ones.

The gaming industry in China also benefited from people's behavioral changes when they were forced to stay at home. According to a report by Gamma Data Corp, a Chinese gaming database, the total revenue of the Chinese mobile game market recorded nearly 55 billion yuan from January to February, rising over 49 percent compared to a year earlier.

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The goal has been set in the guidelines for the development of the environmental protection equipment manufacturing industry released by the Ministry of Industry and Information Technology on Tuesday.

The global population is aging due to increasing life expectancy and falling fertility levels, and that the number of countries experiencing a reduction in population size is growing, the report noted.

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The gas tax is an important funding mechanism for transportation in Washington, but as cars get more efficient, that revenue source has become less plentiful. The mobility center is bringing together teams of students to develop an app that could help the state pilot an alternative a per-mile fee paid by drivers as a way to fund transportation projects.

The government is also preparing to raise its fiscal deficit target, maybe higher than 3 percent as economists predicted, from 2.8 percent last year, and to increase the quota for net local government special bond. The authorities are also considering an issue of special sovereign bonds in the near future.