China pledges SME tax breaks to spur growth

 

China’s State Council, or cabinet, said on Wednesday the government will step up its efforts to boost economic growth by offering more tax breaks to small companies and accelerating investment in water projects.

To counter downward pressure on growth, the government must make its proactive fiscal policy more effective, the State Council said in a statement released after its first meeting since the Lunar New Year holiday.

The cabinet said it would extend existing tax breaks to small businesses until the end of 2017, as well as lower the threshold for companies that qualify for the preferential treatment.

 

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