China’s Premier Li Keqiang was on the wires last minutes, noting that China will cut value-added tax on April 1st.
He also added that the government will begin cuts to social security fees from May 1st.
Additional Comments:
China’s economic growth of 6.6% was hard-won.
China must take strong measures to cope with downward pressure on economy.
Warns against flood-like stimulus which could have longer-term side effects.
China to be able to keep economic growth within reasonable range.
China’s economy faces many uncertainties.
China can use reserve requirements, interest rates to support economic growth.
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