The Central People's Government of the People's Republic of China

12/08/2019 | News release | Distributed by Public on 12/08/2019 00:33

Weekly policy snapshot of Chinese economy

BEIJING - The following are the key moves taken by policymakers in the past week to enhance China's economic strength and sustainability:

- Draft document of consumption tax law

The Ministry of Finance and the State Taxation Administration on Dec 3 started soliciting public opinions on a draft document of consumption tax law.

- Draft plan to boost electric, smart car sales

China plans to further boost sales of new energy vehicles (NEVs) and intelligent connected vehicles to push for green and smart growth of the world's largest automobile market.

Sales of NEVs are expected to make up about 25 percent of the total new car sales by 2025, according to a draft plan by the Ministry of Industry and Information Technology.

- Innovative growth of border trade

China has adopted new policies and measures to support the innovative development of border trade, the Ministry of Commerce said on Dec 4.

- Multi-pronged measures to keep employment stable

China will take robust and multi-pronged measures to ensure that employment remains stable. The government will scale up support for flexible employment, boost job opportunities for people with disabilities, and tackle the stubborn issue of wage arrears affecting migrant workers with legal means.

A host of steps was decided upon at the State Council executive meeting on Dec 4 chaired by Premier Li Keqiang.

- Tax measures to facilitate integrated development of Yangtze River Delta

China's taxation authority has announced 16 measures to facilitate tax services in the Yangtze River Delta and boost the region's integrated development.