Top advisors meet to discuss economic issues

BEIJING - Senior political advisors met here on Wednesday to offer insights into China's economic issues, including macro-economic control, the financial system and rural land transfers.

At a plenary session of the Standing Committee of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), political advisors voiced their concerns over China's tactics for maintaining steady economic growth amidst global economic uncertainties.

Some political advisors called for efforts to spur the development of China's real economy by strengthening its macro-control and deepening its financial system reform.

During the session, which was attended by CPPCC National Committee chairman Jia Qinglin, political advisors proposed tax breaks for small enterprises to offset the impact of decreasing orders and rising labor costs.

Tax breaks are critical to the development of small enterprises, some of which have to pay as much as 40 to 50 percent of their revenue in taxes, according to Huang Zhixian, a senior political advisor.

Many believe tax cuts for small enterprises will generate more jobs and will be conducive to ensuring China's steady economic growth.

During the session, legislators also called for efforts to protect farmers' interests in land transfer deals and improve China's service industry.