China to cut taxes fur­ther, Li says

Business Standard - - WORLD -

Chi­nese Premier Li Ke­qiang vowed to fur­ther cut taxes, ad­min­is­tra­tive fees and red tape in an ef­fort to sup­port the real econ­omy, ac­cord­ing to a gov­ern­ment state­ment on Fri­day.

Li also called for speedy ef­forts to build a “mar­ke­to­ri­ented, le­galised and in­ter­na­tion­alised” busi­ness en­vi­ron­ment. The premier made the re­marks at a meet­ing with en­trepreneurs in east­ern China’s Zhe­jiang Prov­ince, one of the largest clus­ters of pri­vate en­ter­prises in the na­tion and home to Alibaba Group. Both pri­vate and sta­te­owned en­ter­prises are “im­por­tant com­po­nents” of the econ­omy, Li said.

The re­marks fol­lowed pres­i­dent Xi Jin­ping’s pledge on Fri­day that the na­tion will “unswerv­ingly” en­cour­age, sup­port and pro­tect de­vel­op­ment of the pri­vate econ­omy.

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