Premier Li Keqiang announced his government work report during the opening of the National People's Congress at the Great Hall of the People in Beijing. Photo: AFP

China businesses offer mixed reaction to VAT cut as exporters still call for more help amid slowdown

  • New 13 per cent value-added tax rate announced by Premier Li Keqiang on Tuesday still higher than in competitors across Asia like Vietnam, South Korea and Indonesia
  • Exporters remain under heavy pressure from lack of access to credit and the impact of US-China trade war
Topic |   China economy

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Premier Li Keqiang announced his government work report during the opening of the National People's Congress at the Great Hall of the People in Beijing. Photo: AFP
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Premier Li Keqiang delivered the government work report during the opening of the National People’s Congress in Beijing. Photo: Bloomberg

Six key takeaways from China Premier Li Keqiang’s annual policy blueprint

  • The government set the economic growth target for 2019 in a range of 6.0 to 6.5 per cent during the opening of the National People’s Congress
  • Beijing also announced a significant 3 percentage points cut in value-added tax rate for manufacturers to 13 per cent
Topic |   Two Sessions 2019 (Lianghui)

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Premier Li Keqiang delivered the government work report during the opening of the National People’s Congress in Beijing. Photo: Bloomberg
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