Tax cuts to alleviate burden of enterprises

Central govt plans policies to reduce an additional 400 billion yuan this year

China will issue an additional set of policies to further cut 400 billion yuan ($63.8 billion) of tax this year, following Wednesday's announcement of value-added tax reform, officials from the Ministry of Finance said on Friday.

That means the 2018 tax reduction target amounting to 800 billion yuan planned in the government's annual working report will be achieved soon, said Wang Jianfan, director-general of the Ministry of Finance's tax policy department, at a press conference.