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As such, the government has expanded financing channels for businesses such as manufacturers, many of whom have long been troubled by a lack of tangible assets they can pledge as collateral when they are attempting to raise funds.

As we say in Chinese, every single detail counts in the accomplishment of big tasks. Going forward, these are the six things we plan to do. We'll cut the time it takes for opening a business by another half; we will reduce the time required for reviewing a project application by another half; we will put in place, at the national level, an e-platform for accessing government services; we will work to see that our people can get things done in one office, without the need for a second trip; and we will ensure that any requirement for certification that has no basis in law or regulations will be abolished.

As the most significant tax overhaul for two decades, the VAT reform is a key part of China's supply-side economic reforms. It was first piloted in Shanghai in 2012 and expanded nationwide in May 2016.

As reported by NHK, Suzuki hopes that pulling out of China may allow it to concentrate its efforts in India, where it holds a dominant market share through a majority stake in the country's largest carmaker Maruti Suzuki India Ltd.

As the meeting approached, they hastily approved the representative appointed by Venezuela's self-proclaimed interim president Juan Guaido and insisted on pushing for his attendance at the meeting despite serious differences between various members, Geng said.