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He pledged to follow the guide of Marxism-Leninism, Mao Zedong Thought, Deng Xiaoping Theory, the Theory of Three Represents, the Scientific Outlook on Development, the Thought on Socialism with Chinese Characteristics for a New Era.

He said he expects to see deregulation of leverage ratio, and encouragement for product innovation as well as mergers and acquisitions within the industry this year. "Helping private capital play a larger role in the industry will count."

He said a revision related to the age of criminal responsibility has been added to a draft amendment to the Criminal Law that will be submitted to the NPC Standing Committee for a second review.

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He said some special measures had been taken to boost the employment of migrant workers and poverty-stricken people.

He said he hopes the village will expand the scale of the chrysanthemum planting cooperative to attract more farmers to join, and lift more low income households toward a better life.

He said it would be tempting to look at Scandinavia and its comprehensive levels of welfare and see it as a model, but we should ask whether that type of development suits other countries.

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He said that he hopes China and the US can work it out. "We know that is what's best for both China and the US. It's a great relationship and we just want that to continue," he added.

He said increasing the rates will directly reduce the burden for enterprises and is in line with China's taxation reform to replace business tax with VAT.

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He said his children have phoned many times to comfort him and to tell him not to worry about possessions lost to the flooding.

He said some politicians have threatened for US Congress to pass a so-called Hong Kong Human Rights and Democracy Act, which "severely violated the spirit of rule of law, showed clear double standards and grossly interfered in China's internal affairs".