The Chinese government is planning to introduce a raft of personal tax incentives that could help to boost consumer spending. Photo: AFP

China set to cut tax rates for middle classes in bid to stimulate consumer spending

Monthly allowance expected to rise by 40pc to US$775, while mortgage interest payments, education and medical costs to be made tax deductible

Topic |   China economy

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The Chinese government is planning to introduce a raft of personal tax incentives that could help to boost consumer spending. Photo: AFP
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