China to cut taxes further, Li says
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.