China ushers in landmark tax reform to prop up economy

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

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

Financials

VAT reform to benefit foreign firms, too

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

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

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.

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