China unleashes tax cuts in bid to halt economic slowdown

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Relief for small businesses and raised public spending follow decline in production

China has vowed to take action to support its slowing economy with a package of tax cuts for small businesses and higher public spending.

Officials said they would cut taxes “on a larger scale” in order to boost business activity, announced against a backdrop of disappointing industrial production figures and the first drop in car sales for almost three decades.

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Source: china
Link : China unleashes tax cuts in bid to halt economic slowdown

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