Chinese Premier Li Keqiang appears on a screen as he speaks during the opening of the second session of the 13th National People’s Congress outside the Great Hall of the People in Beijing. Photo: EPA

China raises 2019 budget deficit target on promises of tax cuts and infrastructure spending to stem slowdown

  • Deficit target raised to 2.8 per cent of gross domestic product from 2.6 per cent in 2018, providing more fiscal leeway for government spending
  • Business and personal taxes to be cut by 1.3 trillion yuan (US$194 billion), more than the 1.1 trillion yuan in cuts last year, Premier Li Keqiang said on Tuesday
Topic |   Two Sessions 2019 (Lianghui)

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Chinese Premier Li Keqiang appears on a screen as he speaks during the opening of the second session of the 13th National People’s Congress outside the Great Hall of the People in Beijing. Photo: EPA
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