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China is likely to extend its current value-added tax credit refund policies to seven more industries including wholesale and retail, agriculture, accommodation and catering, education, social work, entertainment and sports.

China's newly issued guideline to mobilize existing assets is expected to broaden the channels for private investment and catalyze effective investment, countering the current downward pressure on the economy, experts said.

China is considering additional fiscal policy support while mounting an all-out effort to put existing measures into place, providing a strong buffer against downward pressures on the national economy, officials and experts said on Tuesday.

China is considering additional fiscal policy support while mounting an all-out effort to put existing measures into place, providing a strong buffer against downward pressures on the national economy, officials and experts said on Tuesday.

China's continued tax and fee cuts and the recent move of refunding value-added tax credits to businesses are helping market players withstand economic headwinds and are critical in supporting growth this year, an official said.

China's proactive fiscal policy will stay front-loaded and work in a forward-moving manner to stabilize economic growth and facilitate businesses, a top government official said.

(Economic Watch) China's "First Quarterly Report" presents seven highlights 　　China News Agency, Beijing, April 18 (Reporter Li Xiaoyu) China's economic data for the first quarter was announced on the 18th. Under multiple risks and uncertainties, China's economy continued to grow steadily, showing seven bright spots. 　GDP growth rate increased month-on-month 　　According to official data, in the

Macro policy coordination will be of paramount importance among BRICS countries this year as the world faces continuing challenges induced by COVID-19 and the spillover effects of major economies need to be taken note of in particular, officials and experts said.

Total VAT credit refunds are expected to amount to 1.5 trillion yuan ($235 billion), with priority given to micro and small businesses and the manufacturing industry, according to the document.

China's proactive fiscal policies have been effective so far, going by the positive results generated by expedited issuance of local government bonds, which has boosted investment in infrastructure and could underpin growth for the whole year, experts said.