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China is expected to implement a cut....>

CHINA PRESS
CHINA PRESS: China is expected to implement a cut in VAT in two weeks, a move
which is expected to reduce the VAT take by over CNY900 billion yuan, Shanghai
Securities News reported on Wednesday. Machinery and equipment manufacturing,
and the chemical industry will be two sectors to benefit the most from the tax
cut, the newspaper said citing Tianfeng Securities. For low low-margin
businesses the profit margin is even more pronounced, with profits at brewing
companies set to grow by 15% to 90% after the cut, the paper said citing Guokai
Securities.

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