This morning (May 22), Premier Li Keqiang delivered the 2020 Government Work Report, summarizing the achievements of the past five years and outlining the work deployments and key tasks for 2020.

I. Mining enterprises must establish the concept that lucid waters and lush mountains are invaluable assets.

　　  We must fight the battles to protect the blue skies, clear waters, and fertile lands, achieving the phased goals of the pollution control campaign. Strengthen major risk prevention and control, and resolutely maintain the bottom line of preventing systemic risks.

II. Increase the intensity of tax cuts and fee reductions to stimulate greater vitality in mining enterprises.

　　  Strengthening phased policies, combined with institutional arrangements, to nurture market entities and help them overcome difficulties and develop. This year, we will continue to implement the system of lowering the value-added tax rate and enterprise pension insurance rates, with new tax cuts and fee reductions of about 500 billion yuan. It is expected that a total of more than 2.5 trillion yuan in relief will be provided to enterprises this year. We must resolutely ensure that tax cuts and fee reduction policies reach enterprises, preserving our strengths for future success.

III. Reduce the cost of enterprise production and operation, allowing mining enterprises to lighten their load.

　　  The policy of reducing industrial and commercial electricity prices by 5% will be extended to the end of this year. The average cost of broadband and dedicated lines will be reduced by 15%. Reduce or exempt state-owned property rents, encourage all types of property owners to reduce or postpone rent collection, and provide policy support. Resolutely rectify irregular charges involving enterprises.

IV. Increase financial support for small and medium-sized mining enterprises.

　　   The policy of extending the repayment of principal and interest on loans for small and micro enterprises will be extended again to the end of March next year. Loans for inclusive small and micro enterprises should be extended as much as possible, and loan extensions should be negotiated for other enterprises facing difficulties. Encourage banks to significantly increase credit loans, first loans, and renewable loans without principal repayment for small and micro enterprises. Significantly expand the coverage of government-backed financing guarantees and significantly reduce fees. The growth rate of inclusive small and micro enterprise loans from large commercial banks should be higher than 40%. Support enterprises in expanding bond financing. Strengthen supervision and prevent capital from "circulating" for arbitrage. Financial institutions and loan enterprises should prosper together, and banks are encouraged to provide reasonable concessions. To protect market entities, we must significantly improve the accessibility of loans for small and micro enterprises, and we must significantly reduce their comprehensive financing costs.

V. Simplify procedures to promote the full resumption of work and production in mining enterprises.

　　   Deepen the "streamlining administration and delegating power" reform. Under the conditions of normalized epidemic prevention and control, we must adjust measures, simplify procedures, and promote the full resumption of work and production, and the resumption of markets and businesses. Promote the online processing of more service items, so that enterprises can complete the entire process of business establishment online. Relax restrictions on the registered business premises of small and micro enterprises and individual businesses, making it easier for various entrepreneurs to register and operate and promptly enjoy support policies. Support the integrated development of large, medium, and small enterprises. Maintain fair competition through fair supervision, and continuously create a market-oriented, law-based, and internationalized business environment.

VI. Optimize the economic development environment for private mining enterprises.

　　   Optimize the development environment for the private economy. Ensure that private enterprises have equal access to production factors and policy support, and eliminate unreasonable regulations that are linked to the nature of the enterprise. Clear overdue payments owed by government agencies to private and small and medium-sized enterprises within a time limit. Build a close and clean relationship between government and business, and promote the healthy development of the non-public sector.

VII. Support the construction of "two new and one major" projects to drive demand for mineral products.

　　   Focus on supporting the construction of "two new and one major" projects that both promote consumption and improve people's livelihood and adjust the structure and enhance momentum. These mainly include: Strengthen the construction of new infrastructure develop new-generation information networks, expand 5G applications, build charging piles, promote new energy vehicles, stimulate new consumer demand, and support industrial upgrading. Strengthen new urbanization construction significantly improve the public facilities and service capabilities of county towns to meet the growing needs of farmers to work and settle in county towns. Start construction and renovation of 39,000 old urban residential areas, support the installation of elevators, and develop diverse community services such as dining and cleaning. Strengthen the construction of major projects such as transportation and water conservancy. Increase the capital investment in national railway construction by 100 billion yuan. Improve the market-oriented investment and financing mechanism and support private enterprises to participate equally. We must select projects carefully, leave no sequelae, and ensure that investments continue to yield returns.

VIII. Promote mine ecological restoration.

　　   Deepen the campaign to tackle air pollution in key areas. Strengthen the construction of sewage and garbage disposal facilities. Implement major projects for the protection and restoration of important ecosystems and promote ecological civilization construction.

IX. Ensure energy security.

　　   Promote the clean and efficient use of coal, develop renewable energy, improve the production, supply, marketing, and sales system for petroleum, natural gas, and electricity, and enhance energy reserve capacity.

X. Promote international cooperation in the mining industry.

　　   High-quality joint construction of the "Belt and Road" initiative. Adhere to the principles of joint consultation, joint construction, and shared benefits, follow market principles and internationally accepted rules, give play to the leading role of enterprises, and carry out mutually beneficial cooperation. Guide the healthy development of outbound investment.

XI. Actively utilize foreign investment and create a better market environment for the mining industry.

　　   Actively utilize foreign investment. Significantly reduce the negative list for foreign investment access and issue a negative list for cross-border service trade. Grant greater autonomy to free trade zones in reform and opening up, accelerate the construction of Hainan Free Trade Port, establish more free trade zones and comprehensive bonded zones in central and western regions, and increase pilot programs for expanding opening up in the service sector . Create a market environment where domestic and foreign-invested enterprises are treated equally and compete fairly.

XII. Mining enterprises must tighten the lifeline of safety production.

　　   Strengthen safety production responsibilities. Strengthen the prevention of floods, fires, earthquakes, and other disasters, improve meteorological services, and improve emergency rescue and disaster prevention and mitigation capabilities. Implement special rectification of safety production. Resolutely curb the occurrence of major and serious accidents.

  Further Reading: A Very Concise Version of the 2020 Government Work Report