The government has met 70% of its target to...>

CHINA: The government has met 70% of its target to cut tax by a trillion yuan

this year, just one month after the Two Sessions, reported Shanghai Securities

News on Thursday. It focused its efforts on the manufacturing, communications,

building and high-tech manufacturing sectors, as well as other emerging

industries of strategic importance, noted the paper. The tax-cut campaign has

surpassed expectations in many ways, especially in its speed, scale and impact,

said the report, citing experts. The release of the rest of the tax and fees

cutting measures will be gradual, and they will be implemented rapidly, said the

report, citing Wang Jianfan, the Director at Tax Policy Department at Ministry

of Finance.