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Analysts expect more support measures to be unveiled this year as the country tries to bolster the property sector amid slowing economic growth.
BEIJING, March 23 (Xinhua) -- China on Tuesday slammed the United States for being behind the South China Sea arbitration initiated by the Philippines following remarks by a senior U.S. diplomat that an upcoming ruling on the case would be a critical moment for the "rules-based" future of the region.

However, these nations will not lose their appeal, Zhu pointed out, citing a string of factors including economic scale and cooperation within the bloc.
We will actively promote reforms of the fiscal and financial systems. For example, business tax will be replaced with VAT in all sectors, a major step of structural reform that will save businesses more than RMB500 billion in tax. This will not only help us form a consistent tax system and eliminate double taxation. More importantly, it will strongly boost the development of the service industry, especially high-end services, such as R&D, and support the transformation and upgrading of the manufacturing sector. Most enterprises will benefit from the tax reduction to varying degrees, and small and micro businesses will see their tax burden significantly lightened. In times of fiscal difficulties, the government is doing this to release more water to nourish the fish in the pond, i.e. to generate continued momentum of growth with a short-term drop in fiscal revenue. It is also indicative of the room for fiscal flexibility left at our disposal. Let me give you another example. For reforms in the financial sector, we can explore market-based approaches for debt-for-equity swap to help lower corporate leverage ratio.
Park said that South Korea attaches great importance to South Korea-China relations, and is committed to working with China to promote in-depth development of South Korea-China cooperation in all fields.
来源:资阳报