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: 九九热久久免费视频 | 国产成人精品一区二三区在线观看 | 国产精品一区二区三区久久 | 日本三级香港三级人妇99 | 国产亚洲高清在线精品99 | 成人午夜毛片 | 正在播放国产精品放孕妇 | 亚洲国产毛片aaaaa无费看 | 国产成人刺激视频在线观看 | 欧美性性性性性色大片免费的 | 综合 91在线精品 | 国产精品视频男人的天堂 | 久久网站在线观看 | 在线观看黄网 | 97青青草原国产免费观看 | 狠狠色综合久久婷婷 | av片免费大全在线观看不卡 | 青草福利在线 | 欧美特欧美特级一片 | 亚洲在线一区二区三区 | 美女很黄很黄免费 | 91青青国产在线观看免费 | 精品久久久久久无码中文字幕 | 日韩三级中文 | 亚洲一区二区三区免费观看 | 欧美一区a | 国产三区视频在线观看 | 国产成人精品在视频 | 免费观看性欧美毛片 | 国产精品午夜波多野结衣性色 | 欧美一级艳片视频免费观看 | 亚洲精品一区亚洲精品 | 黄在线网站 | 性色午夜视频免费男人的天堂 | 99re8免费视频精品全部 | 偷拍小视频99在线 | 日韩精品a | 国产黄页| 国产区一区二区三 | 精品国产一区二区在线观看 | 亚洲欧美成人在线 |