Market vitality, lower taxes key focus

VAT rate in manufacturing, additional sectors to be cut by 3 percentage points

China will undertake measures to boost market vitality, with lower taxes and fees targeting business environment optimization being key strategies, said Premier Li Keqiang on Friday.

To cope with downward pressure, the country will not resort to large-scale quantitative easing, but will focus on strengthening market entities, Li said at a news conference at the conclusion of the two sessions in Beijing.