Ministers roll out key economic measures

Ministry of Finance: tax cuts to benefit individuals and enterprises in 2018
In 2018, China will continue to carry out policies of slashing taxes and fees, and the total amount of taxes and fees cut to benefit individuals and enterprises is estimated to reach 1.1 trillion yuan ($173.83 billion). China will raise the personal income tax threshold to be consistent with consumer price and the drafting of a reasonable and appropriate national taxation system on property ownership is in full swing.

Xiao Jie, minister of finance, speaks at a news conference of the first session of the 13th National People's Congress in Beijing on March 7, 2018. [Photo by Feng Yongbin/China Daily]