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China To Quicken Tax Rebates For Smaller Companies: Journal

MNI (Singapore)

China has refunded CNY420 billion of taxes mainly to small and micro companies in the first half of April, about 30% of the total CNY1.5 trillion planned for this year, as the government acts to mitigate the impact of the epidemic and stabilize the economy, the China Securities Journal reported. Companies mainly use the rebate funds for expanding reproduction, technology R&D as well as purchases of raw materials, the newspaper said.

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