Possible impacts of US tax cuts assessed

Vice-minister says nation 'will take proactive measures' in light of bill

China pledged to keep a close eye on the unfolding impact of the United States' tax overhaul, which was passed by the Senate on Saturday, and it called for more tax policy coordination under the global governance framework.

The US Senate passed a major bill on a party-line vote whose main feature is a drastic tax cut for corporations - a reduction of tax rates down to 20 percent from 35 percent, the lowest level in decades. Taxes for individuals would also be eased modestly in the short run, but would quickly rise for middle-and low-income earners.