NDRC: China cut taxes and fees by over RMB1 trillion so far in 2020
2020-07-17 16:55:13 [Print]
On 17 July, National Development and Reform Commission (NDRC) held the routine press conference for July. Yan Pengcheng, Director of National Economy General Department under NDRC, stated that China's economy is accelerating offsetting the impacts of COVID-19 with continuously improving regular epidemic prevention and control measures and gradually releasing of macro policies' effects. From Q2 on, the economic performance improved month by month, production demand kept increasing, positive factors supporting stabilization and recovery rose notably and national economy saw recovery growth with the rise generally meeting expectation.
According to Yan Pengcheng, China carried out a basket of policies to assist enterprises, stabilize employment and expand domestic demand, forming strong support to stable economy bedrock. China made more efforts to reduce taxes and fees in 2020, which have totaled over RMB1 trillion (USD0.14 trillion) by now.
According to Yan Pengcheng, China carried out a basket of policies to assist enterprises, stabilize employment and expand domestic demand, forming strong support to stable economy bedrock. China made more efforts to reduce taxes and fees in 2020, which have totaled over RMB1 trillion (USD0.14 trillion) by now.
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