[CHINA]

thanks, Q

China to slash taxes, boost lending to help slowing economy

https://www.reuters.com/article/us-china-parliament/china-to-slash-taxes-boost-lending-to-help-slowing-economy-idUSKCN1QM02Y

"Beijing has lowered reserve requirements for commercial lenders five times in the past year to spur loans to small and private companies - vital for growth and jobs.

China last year also cut taxes and fees worth 1.3 trillion yuan and allowed local governments to issue 1.35 trillion yuan in special bonds to fund key projects.

This year, the government has set a budget deficit target of 2.8 percent of GDP, up from last year’s 2.6 percent, reflecting lower tax revenue and higher government spending.

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The government has also set a consumer inflation target of around 3 percent, Li said in his report at the opening of the National People’s Congress (NPC) on Tuesday, despite a recent softening in price rises to less than 2 percent, leaving space for Beijing to stimulate consumption."