Cabinet Calls for More-Active Fiscal Policy
The State Council, China’s cabinet, said the country will adopt a more-active fiscal policy to support the economy and tackle external uncertainties amid concerns over slower growth and a worsening trade conflict with the U.S.
Fiscal policy will become more proactive, the cabinet said in a statement (link in Chinese) published after a Monday meeting chaired by Premier Li Keqiang. While China will not resort to stimulus in a massive way, the cabinet promised 1.165 trillion yuan ($172 billion) of tax cuts for businesses.
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