The Executive Meeting of the State Council presided by Premier Wen Jiabao on November 5 says that ten measures would be taken to expand domestic demand and maintain a steady growth.  Among them, the sixth measure on the list aims to accelerate innovation and adjustment of industrial structure and to support high tech advancement and service industry.

The goal for the adjustment is clear, and the measures are: first is to accelerate construction of the housing project for low-income urban residents; second is to speed up infrastructure construction in rural areas; third is to expand important infrastructure construction projects, such railways, roads and airports; fourth is to support development in health care, culture and education; fifth is to bolster construction of ecological environment; sixth is to accelerate innovation and adjustment of industrial structure and support high tech advancement and service industry; seven is to accelerate reconstruction and relief work in disaster-hit areas; eighth is to raise income, including pay raise for urban and rural resident; ninth is to realize tax cut, including the transitional reform of value added tax, to encourage technical upgrade and to lessen 120 billion yuan of companies' taxes; tenth is to ease credit, including the removal of credit restriction on commercial banks.

(China IP News)