Tax cuts for businesses in pipeline
By Xin Zhiming and Wang Bo | China Daily | Updated: 2008-12-09 07:42
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A woman walks past a board displaying the Hang Seng Index chart in Hong Kong yesterday. Hong Kong share prices closed 8.7 percent higher, lifted by hopes that Beijing would announce more market-boosting measures to boost its economy. The benchmark Hang Seng Index rose 1,199 points at 15,044. Stocks on the mainland and other Asian markets also rose. AFP |
As top policymakers ponder ways to ensure GDP growth of at least 8 percent next year, the government is "very likely" to initiate cuts in business tax to add impetus to the slowing economy.
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