China's Premier Li: Will cut value added tax on April 1
China's Premier Li Keqiang was on the wires last minutes, noting that China will cut value-added tax on April 1st.
He also added that the government will begin cuts to social security fees from May 1st.
Additional Comments:
China's economic growth of 6.6% was hard-won.
China must take strong measures to cope with downward pressure on economy.
Warns against flood-like stimulus which could have longer-term side effects.
China to be able to keep economic growth within reasonable range.
China's economy faces many uncertainties.
China can use reserve requirements, interest rates to support economic growth.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
