Shot in the arm for e-commerce

The annual taxable revenue threshold for businesses will be raised from previous 300,000 yuan ($43,895) to 500,000 yuan from July 1.

Businesses whose taxable revenue is below this threshold will enjoy a 20 percent tax discount, according to a decision made by the State Council, China's Cabinet, in late April.

The April decision, which included a series of major tax incentives, came after numerous measures to cut the tax burden on smaller companies were adopted in the first quarter.