Don’t miss the latest developments in business and finance.

China will roll out new measures to support economy: cabinet

Image
Reuters BEIJING
Last Updated : Aug 30 2018 | 4:46 PM IST

BEIJING (Reuters) - China will roll out new measures to support the economy, state radio said on Thursday after a meeting of the country's cabinet.

At the meeting chaired by Premier Li Keqiang, the State Council said that the new measures, which include tax cuts, are expected to cut costs for firms this year by an additional 45 billion yuan ($6.59 billion).

Beijing is speeding up infrastructure spending and offering help to smaller companies as China's economy cools and U.S. trade tensions intensify.

($1 = 6.8300 Chinese yuan renminbi)

(Reporting by Beijing Monitoring Desk)

Disclaimer: No Business Standard Journalist was involved in creation of this content

More From This Section

First Published: Aug 30 2018 | 4:39 PM IST

Next Story