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Despite the PR effect marking the US as an attractive business location, the nominal 15 percentage point reduction of the corporate tax rate may only mean a real decrease of 2 percentage points in tax payments, according to the US Congressional Budget Office, because the tax base has simultaneously been enlarged, said Liu Shangxi, head of Chinese Academy of Fiscal Sciences.
Despite oil demand rising 5.5 percent year-on-year to 11.77 million barrels per day in 2017, oil consumption, including gasoline and diesel, is expected to fall gradually over the next five to seven years, as China focuses more on energy efficiency and quality.
Democratic Senator Richard Blumenthal called the hearing a "charade" and "a mockery of our norms."
Demand for masks in China has dramatically surged as the number of confirmed cases of coronavirus rose to 24,324 on the Chinese mainland as of Feb 4, including 490 deaths.
Despite the US government's pressure, 18,800 foreign-funded companies were established across China between January and July, including 860 US companies, justifying global investors' confidence in the market. And foreign direct investment from the US continued to flow into China, rising 6 percent year-on-year in the first half of 2020, according to the Ministry of Commerce.
来源：资阳报