Chinese Premier Li Keqiang said announced the tax cuts for the manufacturing industry during the National People’s Congress in Beijing. Photo: EPA

China’s ‘unprecedented and sufficient’ tax cut still does not do enough for small manufacturers, owners say

  • Premier Li Keqiang said last week that Beijing will cut the value-added tax (VAT) rate for manufacturing firms by 3 percentage points to 13 per cent from April 1
  • Owners play down suggestions it could boost domestic business and aid employment to help offset the slowdown in growth caused by the US-China trade war
Topic |   China economy

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Chinese Premier Li Keqiang said announced the tax cuts for the manufacturing industry during the National People’s Congress in Beijing. Photo: EPA
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