CHINA Beijing's new tax, fees reductions reach 40 bln yuan in 2018


Beijing's new tax, fees reductions reach 40 bln yuan in 2018


21:57, January 06, 2019

BEIJING, Jan. 6 (Xinhua) -- Beijing's new tax and fees reductions reached about 40 billion yuan (about $5.8 billion) in 2018, according to statistics released by the city's finance bureau on Sunday.


(Photo: VCG)

The city's general public budget revenue was 578.59 billion yuan last year, up 6.5 percent, according to the bureau.

Beijing has provided extra financial and policy support for its private businesses, including tax reductions, government procurement, funds, public-private partnership (PPP), guarantees and interest subsidies.

For example, 109 PPP projects have been included in a management system of the country's Ministry of Finance, with a total investment of 255.35 billion yuan. Funds invested by the municipal government have attracted 201.3 billion yuan of public capital last year.

As Beijing continues its financial reform, it also attaches great importance to risk control and financial security by improving its management of government debt and increasing public oversight of its annual budget.

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue