China plans to cut the value-added tax (VAT) rate that covers the manufacturing ...
FILE PHOTO: A worker drives a forklift past aluminum rolls at a factory in Huaibei, Anhui province, China March 2, 2019. Picture taken March 2, 2019. REUTERS/Stringer
BEIJING - China plans to cut the value-added tax rate that covers the manufacturing sector by 3 percentage points, Bloomberg reported on Monday, citing a source familiar with the matter.Premier Li Keqiang is due to deliver his work report at the annual meeting of parliament starting on Tuesday. In the report, the government will outline its targets for the economy, as well as its policy direction.
China has said it will pursue a more proactive fiscal policy this year as the world’s second-largest economy further slows. Policy insiders previously said they expect the government to cut the VAT, which ranges from 6 percent for the services sector to 16 percent for manufacturers. Finance Minister Liu Kun said in January that tax cuts for small and private firms would lower their costs by 200 billion yuan a year.
इंडिया ताज़ा खबर, इंडिया मुख्य बातें
Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।
Pompeo: US to make sure China can't blockade South China SeaMANILA, Philippines (AP) — U.S. Secretary of State Mike Pompeo says the United States is committed to ensuring the South China Sea remains open to all kinds of navigation and that 'China does not...
और पढो »
U.S. Firms Dial Back China Plans Amid Trade FightU.S. companies are planning their lowest rate of expansion in China since 2016 in response to growing uncertainty about U.S.-China relations and a slowing Chinese economy.
और पढो »
China plans to send a rover to explore Mars next yearCNN News, delivered. Select from our newsletters below and enter your email to subscribe.
और पढो »
China moves to halt swine fever with hog industry overhaulChina plans to divide its hog industry into five zones in an attempt to halt the...
और पढो »
European markets point to a weak open on US-China trade concernsEuropean stocks are set to dip just below the flatline during Thursday's open, as investors keep abreast of geopolitical news.
और पढो »
Donald Trump has delayed a tariff hike on China and floats a summit with President XiThe trade war between the United States and China has cast a shadow on global markets.
और पढो »
Huya, Qutoutiao lead China internet stocks higher after Trump delays tariff increases
और पढो »