(photo credit: JPOST STAFF)
China's tax cuts for smaller companies are mainly intended to support employment and ensure economic stability, Premier Li Keqiang was quoted as saying.
China rolled out a series of support measures for its cooling economy last year and is widely expected to unveil more in coming months to reduce the risk of a sharper slowdown.
"Implementing tax cuts for small and micro enterprises is mainly to support employment," Li said, according to a statements posted to the government's website on Saturday.
China's State Council, or cabinet, said on Jan. 9 that it would further reduce taxes for smaller companies. On Friday, Finance Minister Liu Kun said authorities would step up tax and fee cuts to lower corporate burdens.
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