China’s Finance Minister Liu Kun said that the scale of China’s tax cuts and fees will significantly exceed the target for the year’s bookings
It is expected that the scale of new tax cuts and reductions will be as high as 2.3 trillion yuan. The target set at the beginning of the year is 2 trillion yuan.
Liu Kun said at a seminar on Friday (22nd) that tax cuts and fee reductions are the highlight of optimizing the business environment
The Ministry of Finance resolutely implements the decision-making and deployment of the central government’s larger tax cuts and reductions, and will continue to increase tax cuts and fees. Strength, to provide conditions for enterprises to play light.
He revealed that the Ministry of Finance will strengthen coordination with relevant departments in the next step, pay close attention to tax changes in various industries, timely study the problems highlighted by enterprises, ensure that tax reductions and reductions are implemented, and evaluate the effectiveness of policy implementation, and improve relevant results based on the assessment results. Measures to promote the policy of tax reduction and fee reduction.
Adding 5 billion treasury bonds in Hong Kong next Wednesday
In addition, the Ministry of Finance announced that it will issue additional RMB 5 billion in government bonds in Hong Kong next Wednesday (27th), including a total of 3.5 billion yuan for the two-year period and 1.5 billion yuan for the five-year period, which will expire in 2021 and 2024 respectively.
The announcement shows that the two-year and five-year national debts are the second additional bonds issued for the two new bonds issued in June this year. The additional issuance will be tendered through the HKMA’s debt instrument CCASS on Wednesday.
The Ministry of Finance issued a total of 3.5 billion yuan and a 5-year government bond of 5 billion yuan in September. The winning rates were 2.8% and 2.85% respectively.