More tax cuts for small firms

Policy intends to boost employment, shore up private, micro businesses

China will unveil larger-scale tax cuts and tax exemptions for small and micro businesses, a State Council executive meeting chaired by Premier Li Keqiang decided on Wednesday.

"Amid significant downward pressure, it is essential to introduce tax and fee cuts for small and micro firms, as this will be conducive to boosting employment and shoring up private businesses at the same time." Li said.