MNI BRIEF: China To Continue Tax Cuts In H2

China’s taxation authorities expect to implement CNY600 billion of tax breaks in H2, after reductions totalled CNY9.9 trillion between 2021 and end of H1 2025, according to Cai Zili, deputy director at the State Administration of Taxation, speaking at a press conference on Monday.

"We will continue to implement preferential tax policies to support new quality productivity and high-quality development," Cai added. 

Official data released last week showed financial revenue totalled CNY11.6 trillion in H1, down 0.3% year-on-year, of which tax revenue amounted to CNY9.3 trillion, a decrease of 1.2%. (See MNI: China’s Tax Revenue Fall Expected To Continue In H2)