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2019 tax cuts account for 2% of GDP

Updated: Dec 26,2019 09:27 AM    CGTN

China has cut company taxes and administrative fees to the tune of nearly two trillion yuan (about $285 billion) in the first ten months of 2019. For the whole of 2019, authorities say the overall cuts could account for more than two percent of China's GDP for the year. Tax cuts for the private sector totaled just over one trillion yuan from January to October, accounting for about two-thirds of the overall number.

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