As reported by Bloomberg, the Chinese government is looking to boost its support of China’s domestic economy using “significant but prudent cuts to taxes and fees.”
Bloomberg TV noted that this marks a specific ratching-up of China’s current fiscal stimulus policies, and reveals growing urgency from within China to tackle the increasing growth issue that has been negatively impacting China since early this year, and Chinese policymakers are looking to provide a soft landing spot for investors as global stock markets see $3 trillion missing from their valuations since January.
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