Authorities pledge to fully implement tax benefits

Chinese authorities have vowed to take concrete measures to fully implement tax cut plans this year to ensure that tax burdens of all industries will be reduced.

The Government Work Report this year set out tax cut plans including lowering the value-added tax rate in manufacturing and other industries from 16 to 13 percent, and the VAT rate in transportation, construction and other industries from 10 to 9 percent.

Cheng Lihua, vice-minister of finance, said at a news briefing on Wednesday that the authorities would work to ensure that the tax cuts, which are set to take effect starting from next month, will be implemented in full.