China’s benchmark stock index has lost 25 per cent in 2018, making it one of the worst performing markets in the world. Photo: Reuters

China’s financial commission denies tax cut rumour during key economic meeting

  • Online claim said China’s leadership had decided not to cut taxes or fees during the ongoing Central Economic Work Conference
  • One-sentence statement from the Financial Stability and Development Committee reflects Beijing’s eagerness to shore up fragile market sentiment
Topic |   China economy

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China’s benchmark stock index has lost 25 per cent in 2018, making it one of the worst performing markets in the world. Photo: Reuters
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Orange Wang

Orange Wang

Orange Wang covers the Chinese macroeconomy, and has many years of experience with China's monetary and fiscal policy moves. He also covered global market and financial news for a long time, with a particular focus on new technologies and their influences on economic growth and society. Before joining the South China Morning Post, Orange worked as a Shanghai Correspondent for ET Net, a Hong Kong financial news agency.