US economy

China's tax cuts linked to employment, economic stability – premier


© Reuters. China’s Premier Li Keqiang attends a meeting with Ecuadorean President Lenin Moreno at the Great Hall of the People in Beijing

SHANGHAI (Reuters) – China’s tax cuts for smaller companies are mainly intended to support employment and ensure economic stability, Premier Li Keqiang was quoted as saying.

China rolled out a series of support measures for its cooling economy last year and is widely expected to unveil more in coming months to reduce the risk of a sharper slowdown.

“Implementing tax cuts for small and micro enterprises is mainly to support employment,” Li said, according to a statements posted to the government’s website on Saturday.

China’s State Council, or cabinet, said on Jan. 9 that it would further reduce taxes for smaller companies. On Friday, Finance Minister Liu Kun said authorities would step up tax and fee cuts to lower corporate burdens.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.