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China has cut taxes and fees by more than 2 trillion yuan.

SC-group 03-11-2020

China cut taxes and fees by 2.009 trillion yuan ($31.22 billion) in nine months of this year, China's State Taxation Administration said.

Of the total, 1.37 trillion yuan was saved under the preferential tax and fee measures unveiled this year to support economic development and COVID-19 containment.

The number of taxpayers in China grew 7.5% from Jan to Sep this year and with Q3 recording a 26-percent year-on-year growth, an official with the administration said.

Tax departments have helped facilitate Chinese exporters' shift to domestic market with big data technologies, with export companies' incomes from domestic sales expanding 7.7 percent year on year in the first nine months.The official with the administration said.

And he said China will continue to implement tax relief measures and optimize tax- and fee-related services to stimulate the vitality of market players.

Source:cens.cn

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