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China to cut more taxes to support small and high-tech companies

China to cut more taxes to support small and high-tech companies© Reuters. FILE PHOTO: Illustration photo of a China yuan note

BEIJING (Reuters) – China will cut more taxes to support small and micro firms and high-tech companies, state radio quoted the cabinet as saying on Wednesday after a meeting.

The government rolled out seven measures that are expected to cut more than 60 billion yuan ($9.5 billion) in taxes for small and high-tech companies this year, state radio said.

($1 = 6.3195 renminbi)

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Source: Investing.com

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