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China’s Li – more positive signs in the economy, but recovery is not solid

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 12, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Chinese premier Li Keqiang reiterated today that there are more positive signs in the economy but the foundation of the recovery is not solid.

    Key quotes

    Replacing business tax with value-added tax will not only provide forceful support to current economic growth but also serve as a long-term growth engine for the future

    VAT reform is an important part of structural reform, particularly supply side reform

    It amounts to the biggest tax cut in recent years and will greatly reduce companies' tax burden, he said. It will boost demand, encourage companies to step up R&D spending and create more jobs
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