Chinese Premier Li Keqiang highlights development plans for transportation sector

The second session of China’s 13th National People's Congress was opened in Beijing on 5 March and Premier Li Keqiang delivered the government work report and stated national plans for several industries in the meeting.

To ease the burden on corporate tax payers, China plans to reduce tax and social insurance contributions of enterprises by around RMB2trn in 2019, and will reduce the current value-added tax rate of 16% in manufacturing and other industries to 13%, and lower the tax rate for transportation, construction, and other industries from 10 to 9%.

China plans to reduce sulphur dioxide and nitrogen oxide emissions by 3% in 2019, and decrease the pollution of PM2.5 in the regions of Beijing-Tianjin-Hebei, the Yangtze river delta and Fen-Wei river plain area.

China will push the economic development of Yangtze river delta and build an integrated transportation system along the river.

Li also mentioned that, over the period of two years, China is to reduce or lower some charges for railway and ports.

Posted 06 March 2019

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Katherine Si

China Correspondent

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