China rolls out further tax cuts in support of real economy

BEIJING - China will unveil new tax cuts to boost the real economy while working to ensure full implementation of all existing tax reduction measures, a State Council's executive meeting has decided.

The State newsagency Xinhua reports that China enterprises whose production is halted or business suspended due to the required cutting of overcapacity or restructuring will see their real estate tax and urban land-use tax reduced or exempted.

Corporate income tax and value-added tax on foreign institutions' interest gains from onshore bond market investments will be exempted for three years, Xinhua said.  www.webershandwick.cn (ATI).