www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Policy Watch

China vows to speed up tax reform in 2012

(Agencies) Updated: 2012-06-08 10:52

China will accelerate tax cuts and reforms for selected industries this year to boost domestic consumption, Finance Minister Xie Xuren said in remarks published on Thursday.

The pledge is the latest made by China's policymakers to cushion a slowdown in growth set to extend for a sixth straight quarter and leave the world's second biggest economy on course for its weakest full year of expansion since 1999.

"In 2012 we will push forward tax reforms and try to make significant progress in some key sectors," Xie said, according to a statement published on the ministry's website, summarizing a speech made in late April.

"We will further improve the policy of cutting taxes for some sectors to spur domestic demand," he added.

So far, Beijing has taken several steps overhaul its tax regime, such as launching a pilot program to replace business tax with value-added tax, cutting import duties on some consumer goods and providing tax breaks for smaller firms.

Local media have reported that China may unveil a plan to expand its value-added tax beyond Shanghai as soon as in early June, with 10 cities and provinces on a waiting list.

Xie also pledged to make fiscal policy play a bigger role in adjusting China's economic structure, citing energy price reform and setting up a nationwide social security network.

He also called for the establishment of a risk-alert and prevention system to enhance supervision of local government debt, without further elaboration.

Chinese local governments had racked up 10.7 trillion yuan in debt by the end of 2010, mainly the legacy of an investment binge triggered by Beijing's 4 trillion yuan stimulus plan to counter global financial crisis. About 45 percent of the debt will come due in the coming three years.

China has increased efforts to support the economy in the face of a deepening European debt crisis and slowing demand at home, fast-tracking infrastructure investment, providing consumption subsidies in some household sectors and pushing ahead with financial reforms to help safeguard growth.

It has eased banks' required reserves in three steps since the autumn of 2011, cutting 150 basis points in total to 20 percent and freeing up an estimated 1.2 trillion yuan for fresh lending. It has also cut taxes and slashed red tape.

Economists polled by Reuters in May said they expected a further 100 bps to be cut through the rest of this year to bring the rate down to 19 percent.

Few analysts expect a massive injection of stimulus on anything like the scale of the 4 trillion yuan program unveiled in 2009 and many experts argue against it, even though China's growth in 2012 is likely to be its slowest in 13 years - albeit at a rate of 8.2 percent.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 日本www高清 | 国产亚洲欧美日韩国产片 | 国产黄a三级三级看三级 | 久久91这里精品国产2020 | 在线精品亚洲 | 国产成人www免费人成看片 | 怡红院色视频在线 | 91情国产l精品国产亚洲区 | 亚洲一区二区在线 | 国内自拍网站 | 中文字幕成人免费高清在线 | 成人三级做爰在线视频 | 在线视频中文 | 91亚洲最新精品 | 玖玖在线国产精品 | 久草草视频在线观看免费高清 | 免费观看a级毛片在线播放 免费观看a级网站 | www.久久在线 | 亚洲国产精品67194成人 | 最新国产一区二区精品久久 | 日韩成人午夜 | 99re在线视频精品 | 在线精品亚洲 | 精品在线免费观看 | 在线观看香蕉免费啪在线观看 | 国产亚洲午夜精品a一区二区 | 午夜mm131美女做爰视频 | 亚洲九九视频 | 国产精品合集久久久久青苹果 | 日韩欧美国产另类 | 国产无套视频在线观看香蕉 | 欧美曰批人成在线观看 | 日韩免费a级在线观看 | 亚洲男人天堂 | 久久免费看视频 | 美国一级毛片片aa免 | 91丨九色丨首页在线观看 | av在线手机播放 | 国产亚洲精品久久久久91网站 | 成人性动漫高清免费观看网址 | 久久综合给合久久狠狠狠97色69 |