Briefly

Tax, fee cuts top 1.8 trillion yuan

China's top tax authority said the country's tax and fee cuts totaled 1.88 trillion yuan ($276.06 billion) in the first eight months of the year. This included the preferential tax and fee measures unveiled this year to support economic development and COVID-19 containment, which saved 1.17 trillion yuan, according to the State Taxation Administration. The remaining 706.2 billion yuan worth of cuts in taxes and fees were a result of the implementation of large-scale tax and fee cuts rolled out last year.

Software industry sees rapid recovery

China's software industry has seen rapid recovery as revenue and profit growth gathered steam, according to the Ministry of Industry and Information Technology. Software companies reaped nearly 5 trillion yuan ($734.2 billion) in revenues from January to August, up by 10 percent year-on-year, compared with an 8.6 percent increase in the first seven months. In the first eight months, the profit of the software industry reached 602 billion yuan, up by 5.9 percent year-on-year.

Xinhua