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China is set to start VAT tax cuts on...>

CHINA PRESS
MNI (London)
CHINA PRESS: China is set to start VAT tax cuts on Monday, which will benefit
industries such as coal, steel and non-ferrous metals, the Securities Daily said
on Monday. The cut will gradually reduce the y/y PPI and CPI over the next 12
months, as the tax reduction gain will largely benefit consumers by means of
price decline. Therefore, monetary policy need not respond to downward PPI and
CPI, said Fan Lei, researcher at Sealand Securities, the paper reported.
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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