The government work report says a bigger tax cut is needed. We will combine preferential tax cuts with structural tax cuts, focusing on reducing the tax burden on manufacturing and small and micro businesses. We will deepen the VAT reform, reducing the current tax rate from 16 percent in manufacturing to 13 percent, and from 10 percent in transportation and construction to 9 percent. We will keep the tax rate at the first gear of 6% unchanged, but we will ensure that the tax burden of all industries will be reduced rather than increased by taking supporting measures such as increasing the tax deduction for the production and living services industries. We will continue to move toward a three-tier and two-tier tax rate and a simplified tax system.The tax and social security contribution burden of enterprises was reduced by nearly 2 trillion yuan last year through measures such as lowering the VAT rate and reducing the social security contribution burden of enterprises.