for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Industrials

China says to collect more profits from state-owned financial institutions amid tax cuts

Slideshow ( 2 images )

BEIJING (Reuters) - China’s finance minister said on Thursday that the government will collect more profits from certain state-owned financial institutions and centrally-owned firms, in a bid to support fiscal revenue as the government makes sweeping tax cuts.

The pressure to balance fiscal revenue and spending is very pronounced in 2019, finance minister Liu Kun told a news conference on the sidelines of an annual parliamentary meeting in Beijing.

Reporting by Yawen Chen and Ryan Woo; Editing by Kim Coghill

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up