China’s Cabinet on Thursday (Aug 30) announced new measures to cut costs for companies as policymakers look to support growth amid an escalating trade war with the United States that threatens exporters.
The State Council announced tax cuts that should reduce firms’ costs by more than 45 billion yuan (US$6.59 billion) this year, state radio reported.
Beijing is speeding up infrastructure spending and offering help to smaller companies as China’s economy cools and US trade tensions intensify. Channel NewsAsia
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