with tax cuts alone accounting for more than 10 percent of the tax revenue target this year, according to the government budget, Wang said.
The cuts aim to reduce the burden on manufacturing companies, small
and micro-sized enterprises, and the working class, in an effort to stabilize em
ployment, the financial sector, trade, domestic investment and market confidence, Wang said.
He made the comments during an interview at the annua
l meetings of the national legislature and China’s top political advisory body.
“This scale of tax cuts and fee reductions has rarely been seen over the past decades, both
inside and outside China. It demonstrates the resolution, confidence, wisdom and power of our Party and gov
ernment to overcome difficulties and make great efforts to build a strong state,” he said.