This Is What China's Stimulus And Market Reforms Plan Looks Like

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Here is what we know about the current fiscal and monetary stimulus plans coming out of China so far:Chinese Premier Li Keqiang in Beijing on March 5, 2019. We’re cutting taxes, and politicians will have to spend less money on themselves. Keqiang lowered China’s growth forecast yesterday to as low as 6% to as high as 6.5%.

Beijing cut VAT rates to 16% for manufacturing and 10% for agriculture, transport service, construction, leasing services, wholesale and retail sales and real estate. The VAT rate of 6% bracket remains for financial, telecom and other services. The three percentage points cut off the manufacturing VAT tax was within market estimates, but the other VAT reductions were less than expected.

If investors were hoping for the equivalent of a C-Corp tax break, their hopes were dashed by Keqiang on Tuesday.This year’s report maintained the same line on real estate as it did last year, with the goal of maintaining a “stable and healthy development of the property sector.”

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Source: CNBC - 🏆 12. / 72 Read more »