China mulls more tax cuts to aid virus-hit small, medium businesses

Source: Xinhua | 2020-02-24

China's top economic planner said Monday it will release more targeted tax and fee cuts to aid miro, small and medium-sized businesses in tiding over difficulties as they were among the hardest hit by the novel coronavirus outbreak.

Cong Liang, secretary-general of the National Development and Reform Commission, said the agency will step up macro policy adjustments to actively expand domestic demands and spur consumption recovery.

Project construction should be accelerated to give full play to the key role of effective investments, while stronger support should be lent to major sectors as well as medium and small enterprises, he said at a press conference.