China ushers in landmark tax reform to prop up economy
China has expanded a pilot program to finally put all industries under a unified value-added tax (VAT) regime as part of a wider push to deepen the country's economic reform.
Trade
Data show economy holding steady but pressure remains
China recorded weaker growth momentum in exports and an accelerated decrease in imports in April, showing persistent pressure on the economy due to feeble domestic and external demand.
In-depth
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Commentary: China will not manipulate currency for trade advantage
China will not try to devalue the yuan to seek a trade surplus as market-determined RMB rates and balanced international trade are in the country's interest.
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Western media dismiss Trump's China "rape" metaphor as "absurd"
Western media and experts have dismissed as "absurd" and "nonsense" Trump's accusation that China is "raping" the United States in trade.
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Financials
VAT reform to benefit foreign firms, too
The overall tax burden on enterprises operating in China will be lower as a result of the value-added tax (VAT) reform.
More private investment will put China's recovery on firmer ground
While China's economy recovery has its foundation in government spending on infrastructure, falling private investment is breeding concern that ground for the resurgence may not be firm enough.
Commentary: China's credit surge augurs no restart of massive stimulus
Data showing an increase in loans has fanned speculation that the government may turn to a massive stimulous program, a move that would pose a risk to global financial market.