久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Policies

Tax, fee reductions support stable growth

By Chen Jia | China Daily | Updated: 2019-07-24 09:05
Share
Share - WeChat
Cutting taxes and fees by 2 trillion yuan was the Chinese government's full-year target. [Photo/VCG]

The Chinese government has cut taxes and fees this year totaling 1.17 trillion yuan ($170 billion) by June, completing more than half of the 2 trillion yuan annual tax and fee reduction target, the country's tax authority reported on Tuesday.

The easing of tax and fee burdens has boosted enterprises' investment and encouraged consumption, which supported stable economic growth in the first six months, Cai Zili, director of the Property and Behavior Taxation Department of the State Taxation Administration (STA), said at a news conference.

Individual income tax declined by 30.6 percent year-on-year from January to June, accounting for the largest drop among major taxes, due to the reform of the individual income tax system last October and the introduction of special deductions in January, said the STA.

The value-added tax reform saved businesses around 436.9 billion yuan by the end of June, while small and micro enterprises have saved a total of 116.4 billion yuan because of the newly introduced tax cut policy, according to the data.

"Tax cuts have directly resulted in the decline of the government's income," said Cai. "As a larger scale of tax and fee cuts has taken effect, tax income in the first half has slowed down remarkably."

The STA showed that tax income in the first half increased by 1.4 percent from a year earlier, which was 13.9 percentage points lower than that in the same period in 2018.

Cutting taxes and fees by 2 trillion yuan was the Chinese government's full-year target, as the major measure of a proactive fiscal policy to stabilize economic growth.

The world's second-largest economy expanded 6.3 percent in the first half, in line with the government's annual target of 6 to 6.5 percent, although it slowed from the first quarter's 6.4 percent, the National Bureau of Statistics reported last week.

Economists expected that the Chinese economy may remain mired in domestic and external headwinds, and the authorities are likely to take more proactive measures, on both the monetary and fiscal fronts, to stabilize the growth trend.

"Stabilizing the economy in the short term is the top concern for policymakers," said Wang Shengzu, co-head of Investment Strategy Group Asia, Goldman Sachs.

Besides tax and fee cuts, reserve requirement ratio cuts and lower market interest rates are the policy choices for the Chinese central bank, he said.

"The Fed's possible rate cuts could take some pressure off China if the People's Bank of China decides to follow suit and ease further, which we believe is very likely."

Shen Jianguang, vice-president and chief economist at JD Digits, a fintech company, said that based on the proactive fiscal policy, more policies to boost consumption and support infrastructure construction are expected in the second half.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 成人欧美视频在线观看播放 | 曰韩一级毛片 | 久久成人午夜 | 亚洲欧美日韩国产制服另类 | 孕妇xxxx视频在线 | 久久99亚洲精品一区二区 | 日本免费网站视频www区 | 成 人 黄 色 大 片 | 日本 国产 欧美 | 成人免费观看高清在线毛片 | 在线成人播放毛片 | 9999久久| 美国一级毛片片免费 | 亚洲欧美日韩综合二区三区 | 美女扒开腿被男人猛视频 | 国产精品国产亚洲精品看不卡 | 中文偷拍视频在线观看 | 久草综合在线观看 | 国产亚洲精品日韩已满十八 | 成熟的女性强烈交性视频 | 被老外玩爽的中国美女视频 | 日韩一级欧美一级毛片在 | 欧美日本国产 | 国产99久久久久久免费看 | 波多野结衣在线播放视频 | 97午夜影院 | 男人天堂网站在线 | 国产精品99久久久久久人 | 亚洲加勒比在线 | 成人9久久国产精品品 | 色综合色狠狠天天久久婷婷基地 | 国产成人一区免费观看 | 久久成人免费观看全部免费 | 99视频精品 | 91在线亚洲 | 中日韩美中文字幕 | 亚洲欧美精品一中文字幕 | 国内一级野外a一级毛片 | 国产欧美日韩综合精品一区二区三区 | 色偷偷亚洲精品一区 | 国产99视频精品免费视频7 |