China’s Li – more positive signs in the economy, but recovery is not solid
By FXStreet Chinese premier Li Keqiang reiterated today that there are more positive signs in the economy but the foundation of the recovery is not solid.
Key quotes
Replacing business tax with value-added tax will not only provide forceful support to current economic growth but also serve as a long-term growth engine for the future
VAT reform is an important part of structural reform, particularly supply side reform
It amounts to the biggest tax cut in recent years and will greatly reduce companies’ tax burden, he said. It will boost demand, encourage companies to step up R&D spending and create more jobs
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Source:: FX Street
