Tax reforms reap positive results for economic growth

China's effort to reduce the corporate tax burden has played a positive role in boosting economic growth, experts said on Wednesday, calling on the government to further deepen tax reform to cushion the potential impact of US President Donald Trump's proposal for massive corporate tax cuts.

Hu Yijian, a tax professor at Shanghai University of Finance and Economics, said that China's tax policies have had a substantial impact, as shown by the scale of the tax cuts and the strong rebound of the economy in the first quarter.

It has been a year since China expanded the implementation of value-added tax reform to all industries. By the end of April, total tax cuts under the reform are expected to reach 680 billion yuan ($98.7 billion), according to the country's tax authority.