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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.