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
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
