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China is stepping up financial support for small businesses by encouraging small and medium-sized banks to offer loans to these enterprises at lower rates, with the help of the central bank's re-lending and rediscount program.
China highly appreciates Kyrgyzstan's full support of its policy toward Xinjiang, Wang said, adding that this demonstrates the fine tradition of the two countries featuring mutual respect and support.
China is cutting tariffs across the board. Effective on July 1, China's average tariff rate for clothing, shoes and hats, kitchenware, and sports and fitness supplies will be reduced by 50 percent, and that for home appliances will be lowered by two-thirds. Import taxes on vehicles and auto parts will also be slashed on the same day.
China is also estimated to have more billionaires than the United States in the past four years, CNN reported citing another study by consulting firm Capgemini.
China implemented a proactive fiscal policy, with tax cuts and rate reductions as the most important measures since 2018. Specific policies included deepening the reform of value-added tax (VAT); adding special additional deductions of personal income tax; further expanding the scope of small enterprises that enjoy preferential corporate income tax; and policies to promote the development of innovative and high-tech startups.
来源：资阳报