Entrepreneurs on mainland welcome corporate tax cuts

BEIJING - Chinese entrepreneurs from all walks of life are upbeat following the government's sustained efforts to lower the corporate burden.

"The implementation of tax and fee cuts helps improve enterprise profits, alleviates capital pressure, and solidifies our confidence in business development," said Dai Jishuang, chairman of Shenyang Blower Works Group Corporation, at a symposium hosted by the State Taxation Administration earlier this month.

Following colossal tax and fee cuts of around 1.3 trillion yuan (about $194 billion) in 2018, China will reduce the tax burdens and social insurance contributions of enterprises by nearly 2 trillion yuan this year.