Larger tax cuts beneficial for long term
Updated: 2019-01-21 15:58
China has adopted a proactive fiscal policy and launched a new round of larger, inclusive and more substantial tax cuts, which is an effective way to adapt to economic developments in the new era, according to Tang Yunyi, a researcher of Shanghai Academy of Social Sciences.
According to the SASS website, Tang says that in the face of mounting downward pressure on the economy, tax cuts and fee reductions should be put at the core of efforts to maintain steady economic growth and meet expectations, and adds that this is what China needs to achieve high-quality economic development.
Although China's economic growth shows stability, internal and external development risks continue to increase. Against this background, the role of fiscal policy has attracted the attention of economic experts.
A scientific fiscal and taxation policy is the institutional guarantee for maintaining economic growth, optimizing resource allocation, maintaining market unity, promoting social equity and realizing the long-term peace and stability of the country.
The year 2019 is crucial for building a moderately prosperous society in all respects. China's economy is shifting from a stage of rapid growth to high-quality development, and large-scale tax cuts and fee reductions will provide strong support for the transition.
China has adopted a proactive fiscal policy and launched a new round of larger, inclusive and more substantial tax cuts, which is an effective way to adapt to economic developments in the new era, according to Tang Yunyi, a researcher of Shanghai Academy of Social Sciences.
According to the SASS website, Tang says that in the face of mounting downward pressure on the economy, tax cuts and fee reductions should be put at the core of efforts to maintain steady economic growth and meet expectations, and adds that this is what China needs to achieve high-quality economic development.
Although China's economic growth shows stability, internal and external development risks continue to increase. Against this background, the role of fiscal policy has attracted the attention of economic experts.
A scientific fiscal and taxation policy is the institutional guarantee for maintaining economic growth, optimizing resource allocation, maintaining market unity, promoting social equity and realizing the long-term peace and stability of the country.
The year 2019 is crucial for building a moderately prosperous society in all respects. China's economy is shifting from a stage of rapid growth to high-quality development, and large-scale tax cuts and fee reductions will provide strong support for the transition.
