China announces new measures to bolster real economy

27-Nov-2018

China has decided to roll out a raft of measures to bolster the real economy, with the goal of reducing the tax burden on businesses by more than 45 billion yuan (6.61 billion U.S. dollars) this year.

The new policy support will include tax reductions for factories affected by capacity cuts and money-hungry small and micro companies, according to a State Council meeting chaired by Premier Li Keqiang on Thursday.

Tax reductions are significant to pursuing a proactive fiscal policy and maintaining a stable economy, said a statement released after the meeting.

Source: XINHUA