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China's steep cuts in taxes,............>

CHINA PRESS
MNI (Beijing)
CHINA PRESS: China's steep cuts in taxes, particularly lowering VAT to 13% from
16% for manufacturing industry, will spur the economy, the Securities Times said
in a frontpage commentary on Wednesday. As VAT takes up 39% of China's total tax
revenue, targeting VAT gets to the core of the issue, the newspaper said.
China's manufacturing needs the boost given declining labor supply, higher cost
of operations and funding pressure, it said. The cuts can stabilize
manufacturing and private investment, Securities Times said.

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