Govt mulls over more fiscal support
2 years, 7 months ago

Govt mulls over more fiscal support

China Daily  

Proactive policies help hard-hit market players through large-scale tax refunds China is considering additional fiscal policy support while mounting an all-out effort to put existing measures into place, providing a strong buffer against downward pressures on the national economy, officials and experts said on Tuesday. They added that large-scale tax refunds have started to benefit hard-hit market players in the first four months of the year, an indication of the government's proactive fiscal policy. With the tax refunds equivalent to a reduction in fiscal revenue, China's fiscal revenue dropped 4.8 percent year-on-year to about 7.43 trillion yuan in the first four months, the Ministry of Finance said on Tuesday. Gao Ruidong, chief economist at Everbright Securities, said possible options of new fiscal tools include expanding this year's fiscal deficit and issuing special treasury bonds, which can help stabilize the operation of market players, supplement local fiscal capacities, and supporting the construction of key projects.

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History of this topic

China's general public budget revenue sees accelerated growth in November
1 week ago

China's general public budget revenue sees accelerated growth in November

China Daily  

By Wang Keju | chinadaily.com.cn | Updated: 2024-12-17 19:53 China's general public budget revenue, which is the sum-up of tax revenue and nontax revenue, in November reached about 1.4 trillion yuan, representing an 11 percent year-on-year increase, according to a calculation by Huatai Securities based on the data from the Ministry of Finance. The country's tax revenue grew by 5.3 …

China to enact more proactive fiscal policy
Trending News
1 week, 3 days ago

China to enact more proactive fiscal policy

China Daily  

By Liu Yukun | chinadaily.com.cn | Updated: 2024-12-14 13:56 China will enact more proactive fiscal policy and moderately loose monetary policy with detailed measures to be delivered at the two sessions the next year, said an official on Saturday. Han Wenxiu, executive deputy director of the Office of the Central Committee for Financial and Economic Affairs, said the move marked …

Fiscal revenue growth seen as sign of economic recovery gaining traction
4 weeks, 1 day ago

Fiscal revenue growth seen as sign of economic recovery gaining traction

China Daily  

By WANG KEJU | CHINA DAILY | Updated: 2024-11-25 07:10 A view of the Huangpu River in Shanghai. China's tax revenue growth returned to positive territory in October for the first time this year, suggesting that the country's economic activity is picking up pace and gaining stronger momentum, analysts said. According to the latest data released by the Ministry of …

Fiscal revenue growth seen as sign of economic recovery gaining traction
4 weeks, 1 day ago

Fiscal revenue growth seen as sign of economic recovery gaining traction

China Daily  

A view of the Huangpu River in Shanghai. China's tax revenue growth returned to positive territory in October for the first time this year, suggesting that the country's economic activity is picking up pace and gaining stronger momentum, analysts said. According to the latest data released by the Ministry of Finance, China's general public budget revenue, which is the sum …

Policy support driving V-shaped recovery in Q4, experts say
Top News
1 month ago

Policy support driving V-shaped recovery in Q4, experts say

China Daily  

The skyline of Beijing. There are signs of a "V-shaped" recovery in the Chinese economy with a raft of policy support measures taking swift effect and more spending plans in the pipeline to consolidate the momentum, experts at national think tanks said. Dong Shaopeng, an advisory committee member of the Securities Association of China, said that by advancing investment projects, …

Policy support driving V-shaped recovery in Q4, experts say
1 month ago

Policy support driving V-shaped recovery in Q4, experts say

China Daily  

There are signs of a "V-shaped" recovery in the Chinese economy with a raft of policy support measures taking swift effect and more spending plans in the pipeline to consolidate the momentum, experts at national think tanks said. Dong Shaopeng, an advisory committee member of the Securities Association of China, said that by advancing investment projects, the ongoing round of …

Policy support driving V-shaped recovery in Q4, experts say
Top News
1 month ago

Policy support driving V-shaped recovery in Q4, experts say

China Daily  

The skyline of Beijing. There are signs of a "V-shaped" recovery in the Chinese economy with a raft of policy support measures taking swift effect and more spending plans in the pipeline to consolidate the momentum, experts at national think tanks said. Dong Shaopeng, an advisory committee member of the Securities Association of China, said that by advancing investment projects, …

Policy support driving V-shaped recovery in Q4, experts say
Top News
1 month ago

Policy support driving V-shaped recovery in Q4, experts say

China Daily  

The skyline of Beijing. There are signs of a "V-shaped" recovery in the Chinese economy with a raft of policy support measures taking swift effect and more spending plans in the pipeline to consolidate the momentum, experts at national think tanks said. Dong Shaopeng, an advisory committee member of the Securities Association of China, said that by advancing investment projects, …

Policy support driving V-shaped recovery in Q4, experts say
Top News
1 month ago

Policy support driving V-shaped recovery in Q4, experts say

China Daily  

By Zhou Lanxu | chinadaily.com.cn | Updated: 2024-11-20 14:59 The skyline of Beijing. There are signs of a "V-shaped" recovery in the Chinese economy with a raft of policy support measures taking swift effect and more spending plans in the pipeline to consolidate the momentum, experts at national think tanks said. Dong Shaopeng, an advisory committee member of the Securities …

Policy support driving V-shaped recovery in Q4, experts say
1 month ago

Policy support driving V-shaped recovery in Q4, experts say

China Daily  

The skyline of Beijing. There are signs of a "V-shaped" recovery in the Chinese economy with a raft of policy support measures taking swift effect and more spending plans in the pipeline to consolidate the momentum, experts at national think tanks said. Dong Shaopeng, an advisory committee member of the Securities Association of China, said that by advancing investment projects, …

China's fiscal revenue up 5.5% in October
1 month ago

China's fiscal revenue up 5.5% in October

China Daily  

BEIJING -- China's fiscal revenue increased 5.5 percent year on year in October, data from the Ministry of Finance showed Monday. In the first ten months of the year, China's fiscal revenue dipped 1.3 percent year on year. In the first ten months, the central government collected about 8.25 trillion yuan in fiscal revenue, down 3.9 percent year on year, …

China's fiscal revenue up 5.5% in October
1 month ago

China's fiscal revenue up 5.5% in October

China Daily  

Xinhua | Updated: 2024-11-18 22:13 File photo shows a worker counts Chinese currency renminbi at a bank in Lianyungang, East China's Jiangsu province. BEIJING -- China's fiscal revenue increased 5.5 percent year on year in October, data from the Ministry of Finance showed Monday. In the first ten months of the year, China's fiscal revenue dipped 1.3 percent year on …

After $1.4 trillion package, China to cut homebuying taxes to revive ailing economy
1 month, 1 week ago

After $1.4 trillion package, China to cut homebuying taxes to revive ailing economy

Firstpost  

In the latest step to support ailing economy, China is expected to cut taxes for buying homes, according to Bloomberg In the latest step to support its ailing economy, China is expected to cut homebuying taxes, according to Bloomberg. The decision to cut homebuying taxes would come days after the announcement of a $1.4 trillion package to bail out local …

China economy: Beijing approves $1.4 trillion debt package in latest measure to boost flagging growth
1 month, 2 weeks ago

China economy: Beijing approves $1.4 trillion debt package in latest measure to boost flagging growth

CNN  

Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter which explores what you need to know about the country’s rise and how it impacts the world. Hong Kong CNN — China has approved a 10 trillion yuan plan to bolster its ailing economy by allowing local governments to refinance their debt, unveiling additional stimulus measures to counter a potentially …

China's Economic Stability: A Steady Beacon Amid Global Uncertainty
1 month, 3 weeks ago

China's Economic Stability: A Steady Beacon Amid Global Uncertainty

China Daily  

China's economy remains a stabilizing force in the global economy, despite the challenges of global geopolitical rivalries and rising government debt. The country's structural reforms and high-quality development strategies have contributed to its stability and growth. China's commitment to high-quality development and its willingness to engage in global trade and cooperation remain crucial for maintaining its economic prosperity and stability …

Tax policies aid income earners
2 months, 1 week ago

Tax policies aid income earners

China Daily  

More than 70 percent of people earning an income, did not have to pay tax in China last year, as the country's individual income tax reform has significantly lightened the burden on lower-income earners, the latest data from the State Taxation Administration showed on Tuesday. Individuals with an annual income of less than 100,000 yuan, did not have to pay …

China's general public budget expenditure rises
3 months, 3 weeks ago

China's general public budget expenditure rises

China Daily  

A cashier at a bank in Taiyuan, Shanxi province counts renminbi notes. China's general public budget expenditure expanded 2.5 percent year-on-year in the first seven months of 2024 and is poised to maintain a steady growth trend over the coming months, the Ministry of Finance said on Monday. According to the ministry, the country's general public budget expenditure amounted to …

China's fiscal revenue down 2.6% in Jan-July
3 months, 4 weeks ago

China's fiscal revenue down 2.6% in Jan-July

China Daily  

File photo shows a worker counts Chinese currency renminbi at a bank in Lianyungang, East China's Jiangsu province. BEIJING -- China's fiscal revenue dipped 2.6 percent year-on-year in the first seven months of this year, official data showed Monday. A breakdown of the data showed the country's tax revenue decreased 5.4 percent from one year earlier, while its non-tax revenue …

Fiscal reform charts a new development path
4 months, 2 weeks ago

Fiscal reform charts a new development path

China Daily  

SHI YU/CHINA DAILY The resolution of the third plenary session of the 20th Central Committee of the Communist Party of China, held from July 15 to 18, said China will "deepen reform and advance Chinese modernization under the rule of law and ensure unity between reform and the rule of law". In this regard, China's financial policy has always been …

Fiscal reform charts a new development path
4 months, 2 weeks ago

Fiscal reform charts a new development path

China Daily  

SHI YU/CHINA DAILY The resolution of the third plenary session of the 20th Central Committee of the Communist Party of China, held from July 15 to 18, said China will "deepen reform and advance Chinese modernization under the rule of law and ensure unity between reform and the rule of law". In this regard, China's financial policy has always been …

China revs up fiscal policy support to spur economic recovery
4 months, 3 weeks ago

China revs up fiscal policy support to spur economic recovery

China Daily  

A cashier at a bank in Taiyuan, Shanxi province counts renminbi notes. BEIJING - China is making efforts to step up its fiscal policy support and ensure the implementation of established policies, aiming to consolidate its economic recovery as rising external headwinds weigh on growth. The country will strengthen its fiscal policy to ensure the economy sustains its recovery momentum, …

China to step up fiscal policy implementation to spur economic recovery: official
4 months, 3 weeks ago

China to step up fiscal policy implementation to spur economic recovery: official

China Daily  

A Chinese clerk counts renminbi yuan banknotes in Nantong, East China's Jiangsu province. The country will issue the ultra-long special treasury bonds in a timely manner and make good use of the funds raised from the bond sales, Lin Zechang, of the Ministry of Finance, told a press conference. Lin said that the country will also speed up the issuance …

Tax policy to better support economic recovery
8 months ago

Tax policy to better support economic recovery

China Daily  

The Inner Street Culture Creative Park is bustling with activity during the night market in Qingxiu district, Nanning city, Guangxi Zhuang autonomous region, on April 16, 2024. China's fiscal authorities will intensify efforts in areas like fully supporting sci-tech innovation and expanding domestic demand to further facilitate economic recovery, a senior official from the Ministry of Finance said on Monday …

China's new budget book reveals fiscal priorities for 2024
9 months, 1 week ago

China's new budget book reveals fiscal priorities for 2024

China Daily  

A woman shows banknotes and coins included in the 2019 edition of the fifth series of the renminbi. Greater fiscal input The ultra-long special treasury bonds to be issued over each of the next several years, along with other arrangements including budget deficits, special-purpose bonds, preferential tax and fee policies as well as government subsidies, mark the country's strengthened fiscal …

Fiscal moves to bolster recovery
9 months, 2 weeks ago

Fiscal moves to bolster recovery

China Daily  

Chinese 100 yuan banknotes are seen in a counting machine at a bank in Beijing, China. At a news conference on Wednesday on the sidelines of the ongoing annual session of the national legislature, Lan Fo'an, minister of finance, said work will be done to expand fiscal expenditure appropriately to ensure sufficient funding for major national strategic tasks, markedly increase …

Increase in fiscal revenue result of and boost to solid recovery
10 months, 2 weeks ago

Increase in fiscal revenue result of and boost to solid recovery

China Daily  

Chinese 100 yuan banknotes are seen in a counting machine at a bank in Beijing, China. In 2023, the national fiscal revenue exceeded 21 trillion yuan, an increase of 6.4 percent from the previous year. In 2023, the Chinese government's tax revenue was 18,113 billion yuan, an increase of 8.7 percent year-on-year, among which the value-added tax was 6,933.2 billion …

Tax reliefs strengthen private sector
1 year ago

Tax reliefs strengthen private sector

China Daily  

High-rises dominate the skyline on both sides of the Huangpu River in Shanghai. Measures worth $170 billion stabilize corporate finances, boost innovation China's private enterprises are reaping many benefits from tax and fee reliefs. Tax and fee payment rebates, deductions or deferments were worth nearly 1.24 trillion yuan for private businesses in the first 10 months of this year. Jiao …

China to extend tax, fee supports for enterprises
1 year, 2 months ago

China to extend tax, fee supports for enterprises

China Daily  

A woman shows banknotes and coins included in the 2019 edition of the fifth series of the renminbi. BEIJING -- China will extend several preferential tax and fee policies to continue easing the burden on enterprises and support the development of businesses, the Ministry of Finance said Wednesday. China will continue to exempt registration fees for certain epidemic-prevention drugs and …

Timely steps to drive consumption, heal biz stress
1 year, 6 months ago

Timely steps to drive consumption, heal biz stress

China Daily  

Tourists shop at a duty-free shopping mall in Sanya, South China's Hainan province. "While economic figures for May have attracted market attention, we believe that even though temporary fluctuations in certain sectors have emerged, the momentum of China's economic recovery remains strong and solid," she said. Noting the current insufficient market demand and the need for a stronger internal driver …

Businesses benefit from series of tax, fee cuts
1 year, 6 months ago

Businesses benefit from series of tax, fee cuts

China Daily  

Policies help firms weather the effects of COVID-19 With businesses in China rebounding from the effects of the COVID-19 pandemic since the start of this year, the nation's economic growth has accelerated. In January, figures released by the Ministry of Finance showed that tax and fee cuts, tax refunds and deferred payments last year totaled 4.2 trillion yuan, including 2.4 …

China extends, improves tax relief policies for businesses
1 year, 8 months ago

China extends, improves tax relief policies for businesses

China Daily  

BEIJING, March 27 -- China has extended and improved a raft of preferential tax and fee policies, according to multiple statements issued by the Ministry of Finance and the State Taxation Administration based on decisions made at a State Council meeting last week. For low-profit small enterprises, the portion of their annual taxable income that does not exceed 1 million …

China to expand fiscal spending to support economic recovery
1 year, 11 months ago

China to expand fiscal spending to support economic recovery

China Daily  

A worker counts Chinese currency renminbi at a bank in Linyi, East China's Shandong province. China will appropriately expand fiscal spending as the government aims to provide "more direct and effective" fiscal support for economic recovery in 2023, according to the Ministry of Finance. "We will appropriately expand fiscal spending by optimizing the tool mix of fiscal deficit, local government …

2023 policy focused on solid recovery
2 years ago

2023 policy focused on solid recovery

China Daily  

Containers are unloaded at Qingdao Port in Shandong province in March. Key Party meeting maps direction, major tasks for development next year Reviving the COVID-19-battered economy will be a key policy priority for China next year as the top leadership has sent a strong signal to push overall improvement of economic activity and substantially expand domestic demand, economists said on …

2023 policy focused on solid recovery
2 years ago

2023 policy focused on solid recovery

China Daily  

Containers are unloaded at Qingdao Port in Shandong province in March. Key Party meeting maps direction, major tasks for development next year Reviving the COVID-19-battered economy will be a key policy priority for China next year as the top leadership has sent a strong signal to push overall improvement of economic activity and substantially expand domestic demand, economists said on …

减税降费政策为市场主体添活力
2 years, 3 months ago

减税降费政策为市场主体添活力

China Daily  

国家税务总局最新数据显示，截至8月31日，今年全国累计新增减税降费及退税缓税缓费超3.3万亿元，有效提振市场主体信心，增强发展内生动力，推动经济平稳健康发展。 An employee of an auto parts manufacturer answers a tax official's queries on production in Fuzhou, Fujian province, on June 1. 官方数据显示，中国的减税降费及退税缓税缓费政策为市场主体注入活力。 The country's accumulated tax refunds, tax and fee cuts, and tax and fee deferrals this year topped 3.3 trillion yuan by Aug. 31, according to the State Taxation Administration. 增值税发票数据还显示，大规模增值税留抵退税政策的实施，有效缓解了企业资金压力。 From April to August, the sales revenue …

上半年全国市场主体突破1.6亿户 发展态势呈V字反弹
2 years, 4 months ago

上半年全国市场主体突破1.6亿户 发展态势呈V字反弹

China Daily  

国家市场监督管理总局8月17日表示，截至6月底，全国登记在册市场主体1.61亿户，较2021年底增长4.4%，上半年市场主体发展呈现V字型走势。新增市场主体中，新经济新业态市场主体的加速发展，为推动高质量发展提供了新的动能。 Employees of Shandong Marine Group display a fish at an aquaculture base in Qingdao, Shandong province. China's top market regulator said on Wednesday that the number of newly established market entities, including companies and the self-employed, witnessed a V-shaped recovery in the first half, as market confidence from various businesses continued to get a boost despite ongoing COVID-19 resurgences …

上半年全国市场主体突破1.6亿户 发展态势呈V字反弹
2 years, 4 months ago

上半年全国市场主体突破1.6亿户 发展态势呈V字反弹

China Daily  

国家市场监督管理总局8月17日表示，截至6月底，全国登记在册市场主体1.61亿户，较2021年底增长4.4%，上半年市场主体发展呈现V字型走势。新增市场主体中，新经济新业态市场主体的加速发展，为推动高质量发展提供了新的动能。 Employees of Shandong Marine Group display a fish at an aquaculture base in Qingdao, Shandong province. China's top market regulator said on Wednesday that the number of newly established market entities, including companies and the self-employed, witnessed a V-shaped recovery in the first half, as market confidence from various businesses continued to get a boost despite ongoing COVID-19 resurgences …

增值税留抵退税政策扩围，再惠及7大行业
2 years, 6 months ago

增值税留抵退税政策扩围，再惠及7大行业

China Daily  

国务院近日印发《扎实稳住经济的一揽子政策措施》。在六个方面的33项措施中，“进一步加大增值税留抵退税政策力度”是第1项。作为今年稳定宏观经济大盘的关键性举措，留抵退税政策进一步扩围。 Taxation officers inspect a textile enterprise in Huzhou, Zhejiang province. TAN YUNFENG/FOR CHINA DAILY China is likely to extend its current value-added tax credit refund policies to seven more industries including wholesale and retail, agriculture, accommodation and catering, education, social work, entertainment and sports. 这7个行业大多数都属于服务业，因疫情反弹受到重创。 The VAT credit refund program, first announced in this year's Government Work Report in …

China pledges support for ailing economy, analysts doubt impact
2 years, 7 months ago

China pledges support for ailing economy, analysts doubt impact

Al Jazeera  

Beijing says it will roll out additional tax cuts and postpone social security payments for firms to support growth. China has pledged tax cuts and infrastructure spending to support economic growth, as economists poured doubt on a strong rebound for the world’s second-largest economy as long as lockdowns persist. Beijing will increase annual tax cuts by more than 140 billion …

Smaller companies to further benefit from tax cuts, refunds
2 years, 7 months ago

Smaller companies to further benefit from tax cuts, refunds

China Daily  

Tax officials address employees' queries at a factory in Ganzhou, Jiangxi province, in April. HU JIANGTAO/FOR CHINA DAILY Amid headwinds, multi govt units line up to ensure support for enterprises Concerted efforts from multiple authorities in supporting value-added tax credit refunds to businesses will play a critical role for the country's smaller businesses facing strong headwinds, and are expected to …

Smaller companies to further benefit from tax cuts, refunds
2 years, 7 months ago

Smaller companies to further benefit from tax cuts, refunds

China Daily  

Tax officials address employees' queries at a factory in Ganzhou, Jiangxi province, in April. HU JIANGTAO/FOR CHINA DAILY Amid headwinds, multi govt units line up to ensure support for enterprises Concerted efforts from multiple authorities in supporting value-added tax credit refunds to businesses will play a critical role for the country's smaller businesses facing strong headwinds, and are expected to …

Favorable tax and fee policies front-loaded to shore up enterprises
2 years, 9 months ago

Favorable tax and fee policies front-loaded to shore up enterprises

China Daily  

China has unveiled more than 20 tax and fee policy measures in support of market players since the beginning of the year. China has unveiled more than 20 tax and fee policy measures in support of market players since the beginning of the year in a bid to boost business growth quickly, the Ministry of Finance said on Wednesday. To …

Tax, fee cuts surpass 200b yuan in Zhejiang Jan-Sept
3 years, 1 month ago

Tax, fee cuts surpass 200b yuan in Zhejiang Jan-Sept

China Daily  

East China's Zhejiang province slashed taxes and fees by 204.25 billion yuan in the first nine months of this year, benefiting nearly 40 million enterprises, according to statistics recently released by the Zhejiang Provincial Department of Finance. The tax and fee cuts from January to September for the three industries totaled 92.06 billion yuan, 29.57 billion yuan and 25.99 billion …

China to further cut corporate costs
3 years, 7 months ago

China to further cut corporate costs

China Daily  

China will further cut taxes and fees to boost the vitality of market entities, the country's top economic planner said on May 10. China will mobilize financial resources to support the real economy, reduce government-imposed transaction costs, and cut labor costs for firms, said a notice released by the National Development and Reform Commission and three other ministries. The country …

China's fiscal policy to be more sustainable in 2021
3 years, 9 months ago

China's fiscal policy to be more sustainable in 2021

China Daily  

China's fiscal policy will remain proactive but to be more sustainable this year, focusing on promoting its efficiency and quality. China's fiscal policy will remain proactive but to be more sustainable this year, focusing on promoting its efficiency and quality, reflecting a "people-centered" principle, Finance Minister Liu Kun, said at a news conference on Friday. According to the finance minister, …

China to improve its fiscal policy quality
3 years, 11 months ago

China to improve its fiscal policy quality

China Daily  

A teller counts cash at a bank branch in Hangzhou, capital of East China's Zhejiang province. The government will normalize its implementation of the specified transfer payment mechanism to raise fiscal spending efficiency while "tightening the belt" to save money and enrich the people, said Liu. "We will increase the fiscal funds straightly channeled to the prefecture and county-level governments, …

Experts mull fiscal stimulus withdrawal
3 years, 11 months ago

Experts mull fiscal stimulus withdrawal

China Daily  

A staff member wearing a face mask arranges stacks of Chinese yuan banknotes at a bank in Nantong, East China's Jiangsu province, on Jan 30, 2020. Policy advisers agree on prevention of potential side-effects of tax measures A mechanism to withdraw special fiscal stimulus measures smoothly and gradually in the post-pandemic period is needed to stabilize market expectations and minimize …

China unlikely to dilute fiscal stimulus package
4 years, 1 month ago

China unlikely to dilute fiscal stimulus package

China Daily  

A worker counts Chinese currency renminbi at a bank in Linyi, East China's Shandong province. Policymakers are unlikely to make any changes to China's existing fiscal stimulus package next year, but may focus on additional steps to bolster economic recovery, especially to improve people's livelihood and save jobs, officials from the Ministry of Finance said on Thursday. More funds, especially …

Fiscal goals including tax, fee cuts set to be met
4 years, 4 months ago

Fiscal goals including tax, fee cuts set to be met

China Daily  

The government will be able to achieve its annual fiscal targets, according to its projection of steady economic recovery, cutting more than 2.5 trillion yuan in taxes and fees to support business and mitigate the impact of COVID-19, Finance Minister Liu Kun said in an interview with CCTV late on Thursday. The next stage of fiscal reforms will likely tackle …

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