Beijing strikes the right balance on stimulus: China’s latest policy package looks like an effective, if awkward, way to support the real economy, says cbeddor -
China’s government said on March 5 that it would cut taxes and fees for companies by nearly 2 trillion yuan in 2019. The value-added tax rate for manufacturers will be reduced to 13 percent from 16 percent, and the rate for transportation and construction sectors will be lowered to 9 percent from 10 percent. The announcements came at the opening of country’s parliament.
Each year China hosts two meetings: the National People's Congress and the Chinese People's Political Consultative Conference, an advisory board. During the meetings, government officials present economic targets for the upcoming year for formal ratification.
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