A large-scale tax reduction and more positive financial policies are underway, according to Liu Kun, Minister of Finance of China. (Photo: IC)
A large-scale tax reduction and more positive financial policies are underway, said Liu Kun, Minister of Finance of China, in a recent interview with Xinhua News Agency.
According to Liu Kun, more positive financial policies are underway with focus on four aspects, including large-scale tax reduction for enterprises, strengthened development on weak links in society and economy, stimulating consumption, and spending more financial income on ordinary people.
According to Liu Kun, it is expected that taxes of 1.3 trillion yuan are to be reduced under the more positive policy. The 1.3 trillion yuan tax reduction can be realized by policies made at the beginning of 2018 and other economy development and technology creation measures.
Liu also said that China has the ability to overcome the shock and pressure caused by the trade war between the US and China. He said that China is not willing to have the trade war but has made measures to fight for the interest of the nation.