China’s Premier Li aims to energize the market in order to stabilize the economy

China’s Premier Li Keqiang urged further cuts to taxes and fees to revive the market entities, aimed to stabilize the country’s economy.

Key quotes

“The large-scale tax and fee cut policies are key to macroeconomic control.”

“More than 8.6 trillion yuan ($1.35 trillion) has been cumulatively cut in taxes and fees since 2016.”

“Such policies have further stimulated the vitality of market entities and contributed to expanding consumption and effective investment, and have also helped stabilize growth, ensure employment and prevent inflation.”

“Practice has proved that tax and fee cut policies considerably benefit enterprises and play a crucial role in dealing with the difficulties and challenges in keeping economic operation within a reasonable range.”

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