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China's State Taxation Administration said Sunday the country's tax
and fee cuts totaled 2.09 trillion yuan (about 311.22 billion U.S.
dollars) in the first three quarters of this year. Of the total, 1.37 trillion yuan was saved under the preferential tax
and fee measures unveiled this year to support economic development and
COVID-19 containment. The number of the country's taxpayers increased 7.5 percent in the
January-September period from one year earlier, with Q3 recording a
26-percent year-on-year growth, said Cai Zili, an official with the
administration. Tax departments have helped facilitate Chinese exporters' shift to
domestic market with big data technologies, with export companies'
incomes from domestic sales expanding 7.7 percent year on year in the
first nine months, Cai said. He said China will make more efforts to implement tax and fee relief
measures and optimize tax- and fee-related services to vitalize all
market entities.
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