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MNI (Beijing)
     BEIJING (MNI) - China's large-scale tax and fee cuts this year are expected
to top CNY2.3 trillion, said Minister of Finance Liu Kun, at a forum jointly
held by the ministry, Beijing municipal government and the World Bank on Friday.
     Here are main takeaways from speeches by Liu and Yin Yong, a deputy mayor
of Beijing. 
     - The finance ministry will more efficiently implement tax cuts by closely
monitoring changes of companies' tax burdens and evaluate relevant policies, Liu
     - Local governments should launch targeted and suitable measures to improve
business environment and ensure companies benefit from the reform, Liu said.
     - China will further optimize its business environment to better compete
internationally. FDI into China reached CNY683.2 billion this year with over
30,000 new foreign companies entered. China's business environment now ranks 31
in the world from 46 last year according to the World Bank, Liu added.
     - Beijing has implemented tax and fee cuts that reached CNY136.8billion in
the first eight months. It will widen opening up, establish a social credit
system and provide a legal and friendly environment suitable for foreign
investors, Yin said.
--MNI Beijing Bureau; +86 (10) 8532 5998; email:
[TOPICS: M$A$$$,M$Q$$$,MC$$$$,MI$$$$]

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