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China raised the deduction baseline for personal income tax from 3,500 yuan to 5,000 yuan per month on Oct 1, and six categories of special deduction items, including children's education, continuing education, healthcare treatment for serious diseases, mortgage interest and rent, and senior care, took effect on Jan 1 this year, according to the Personal Income Tax Law amended on Aug 31.
China on Aug 3 threatened tariffs on billion in US goods — including 25 percent on liquefied natural gas — in response to a US threat to expand tariffs on Chinese exports.
China will continue to reduce taxes and fees in the second half of the year as part of its efforts to save costs for enterprises and bolster employment, according to top tax authorities.
China realized its major preset economic and social development goals in 2017, with some important indicators exceeding anticipation, the statement said.
China should improve the yuan exchange rate management and shift to a more flexible regime along with in-depth financial opening-up, a leading financial think tank said.
来源：资阳报