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China to focus on tax reforms in 2012 - Fin Min
BEIJING, March 6 |
BEIJING, March 6 (Reuters) - China will focus on improving its tax system and lowering structural taxes in its 2012 fiscal policy, which would be kept "pro-active", Finance Minister Xie Xuren said on Tuesday.
Chinese leaders say they want to improve the country's tax system to lower the tax burden on smaller companies and help them cope with rising operating costs.
Analysts say China also needs to reform its fiscal system and allocate more state revenue to local governments to fund numerous infrastructure projects.
Xie was speaking to reporters on the sidelines of the annual parliamentary meeting.
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