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Premier Li Keqiang sets out plan for 6.5% annual growth through the end of the decade
Chinese Premier Li Keqiang outlined the country’s economic goal to maintain growth of at least 6.5% through 2020 at the annual Boao Forum for Asia – China’s answer to the Davos World Economic Forum. As part of this plan, China will cut taxes in the hopes of stimulating growth in the service industry. The tax cuts will amount to 500 billion yuan ($76.8 billion) this year, reports The Wall Street Journal.

“This is a major step to promote structural reform,” ...

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