We cut taxes by one trillion yuan and issued bonds ahead of schedule, and rolled out a proactive fiscal policy
On January 15 and 17, premier Li Ke qiang presided over two forums to hear opinions and Suggestions on the draft government work report.At the symposium, Suggestions on proactive fiscal policies, especially tax cuts and fee reductions, came into focus.
We will allow the economy to grow with a certain degree of flexibility, but we will not allow it to rise or fall in a big way, let alone fall off a cliff, li said at a panel discussion on Tuesday.China's development faces more severe difficulties and challenges this year, Li said Thursday, calling on the country to follow the guidance of Xi Jin Ping thought on socialism with Chinese characteristics for a new era, stick to seek improvement in stability and continue to implement a proactive fiscal policy and a prudent monetary policy.
In fact, compared with previous years, the proactive fiscal policy has already made efforts in advance -- tax cuts and fee reductions and the issuance of government bonds have helped the economy to operate within a reasonable range without "big ups and downs".
The 200 billion yuan tax cut for small and micro businesses and technology-based enterprises has been announced first, and more than 95 percent of the tax-paying enterprises in China will benefit from it, reducing the burden on small and micro businesses, and helping the economy run smoothly and employment remain stable.