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
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
