Tax and fee cuts exceeded 2.3 trillion yuan (US$328 billion) in 2019, the ministry said, adding that it will continue to implement tax and fee reductions in 2020. Photo: Reuters

China’s coronavirus stimulus response could be limited as 2019 fiscal revenue grew at slowest pace since 1987

  • Fiscal revenues rose 3.8 per cent in 2019 compared to a year earlier, the Ministry of Finance said on Monday, slowing from an increase of 6.2 per cent in 2018
  • The fall in fiscal revenues will restrict Beijing’s ability to boost spending in 2020 to keep growth on track amid the coronavirus outbreak
Topic |   China economy
Tax and fee cuts exceeded 2.3 trillion yuan (US$328 billion) in 2019, the ministry said, adding that it will continue to implement tax and fee reductions in 2020. Photo: Reuters
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