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China levies its withholding tax at a rate of 10 percent on foreign firms' earnings. However, that withholding tax can be exempted if that profit is put into qualified direct equity investments, including stocks.
China will also seek closer cooperation with other SCO members to more precisely target transnational drug trafficking routes and underground drug factories, as well as to cut their capital chains, Wei said.
China is willing to work with Singapore to achieve new progress in China-ASEAN ties, Premier Li Keqiang said when meeting with Singaporean President Halimah Yacob on Wednesday.
China tax cuts to benefit individuals in 2018
China was the first to ground MAX jets last March after crashes Oct 29, 2018, in Indonesia and March 10 in Ethiopia killed 346 passengers and crew. Investigators have focused on the MAX's Maneuvering Characteristics Augmentation System (MCAS), an anti-stall device that may have erroneously pointed the nose of the planes down to gain speed to prevent a midair stall and into a fatal plunge.
