November 1, 2018 / 4:41 AM / 21 days ago

China plans more tax cuts to spur consumption: vice finance minister

BEIJING (Reuters) - China is planning more tax cuts to help spur domestic consumption, Vice Finance Minister Zou Jiayi told Reuters on Thursday.

The finance ministry has pledged a more active fiscal policy to help bolster China’s slowing economy.

China will provide 214 billion yuan ($30.72 billion) in new funding to poor areas from 2018 to 2020, Zou said on the sidelines of a forum in Beijing.

Reporting by Yawen Chen and Ryan Woo; Editing by Shri Navaratnam

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