clearn.png
Tuesday May 21st, 2019 5:36AM

China to cut taxes, keep currency stable to counter slowdown

By The Associated Press

BEIJING (AP) — Senior Chinese economic officials say they will slash taxes, step up spending and help resolve financing problems of private and small enterprise to help counter the country's worst slowdown since the global financial crisis.

The officials said Tuesday that Beijing will keep its monetary policy stable but flexible. A deputy central bank governor, Zhu Hexin, said the People's Bank of China was confident it can keep the value of the Chinese yuan steady.

The officials were outlining plans for 2019 that were set at an annual policy meeting in December.

In July-September, China's economic growth sank to a post-crisis low of 6.5 percent compared with a year earlier despite government efforts to stem the downturn by ordering banks to lend more and by boosting spending on public works construction.

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Economy, AP Business - Financial Markets, AP Business - Small Business
© Copyright 2019 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Kidnapping suspect targeted girl after seeing her get on bus
Suspect in Wisconsin kidnapping decided to abduct girl after watching her get on school bus
11:24PM ( 26 minutes ago )
Honolulu city attorney targeted in federal corruption probe
The city of Honolulu's chief legal officer has received a target letter linked to an ongoing federal corruption investigation
11:21PM ( 29 minutes ago )
No. 7 Kansas holds on to beat Texas 80-78 at Phog
Lagerald Vick scored 21 points, Marcus Garrett added a career-high 20, and No. 7 Kansas held on to beat Texas 80-78 on Monday night when Jase Febres' 3 at the buzzer missed wide
11:19PM ( 31 minutes ago )
Associated Press (AP)
India's mega Hindu festival begins under cloud of toxic air
India's mega Hindu festival begins under cloud of toxic air, a sign that government officials are struggling to grapple with the country's worsening air pollution
9:51PM ( 1 hour ago )
Company known for deep cost-cutting offers to buy Gannett
A hedge fund-backed bid to buy Gannett Co., the publisher of USA Today and several other major dailies, is renewing fears of consolidation, job losses and declining news coverage in the already battered newspaper industry
9:39PM ( 2 hours ago )
Trump declares he'll 'never back down' in shutdown fight
President Donald Trump on Monday rejected the suggestion that he temporarily reopen government while negotiations continue on his proposed border wall
9:13PM ( 2 hours ago )
AP Business
Trump seeks to sell shutdown, trade policies to farmers
President Donald Trump is urging a gathering of farmers to stick with him even as many of them grapple with the impact of his trade battles with China and Washington's shuttered bureaucracy.
6:27PM ( 5 hours ago )
Trade war delaying Chinese automaker's US plans
Chinese automaker GAC Motor says the U.S.-China trade war has delayed its plans to enter the American market
6:21PM ( 5 hours ago )
UK leader in frantic final push to win Brexit deal backing
British Prime Minister Theresa May is making a frantic last push to swing lawmakers behind her seemingly doomed Brexit deal.
6:13PM ( 5 hours ago )
AP Business - Economy
Stocks slip after China says exports fell in December
Global stock indexes are slipping after China said its exports fell in December, contributing to concerns its economy is getting weaker
11:27AM ( 12 hours ago )
Zimbabwe army deploys to disperse fuel protests, 13 injured
Zimbabwean soldiers deploy to some areas amid violent protests over fuel hikes; several people shot
11:10AM ( 12 hours ago )
Chinese exports to US sank last month as tariffs took a toll
China's 2018 trade surplus with US hits record high $323.3 billion but December exports fall as Trump tariffs start to depress demand
11:04AM ( 12 hours ago )
AP Business - Financial Markets
Surgeons fear pelvic mesh lawsuits will spook patients
Doctors who specialize in female pelvic medicine are criticizing lawsuits by four states, including Washington and California, over products used to treat pelvic floor disorders
7:17PM ( 4 days ago )
Doctors: Pelvic mesh lawsuits by 4 states are ill-advised
Doctors who specialize in female pelvic medicine are criticizing lawsuits by four states, including Washington and California, over products used to treat pelvic floor disorders
3:21PM ( 4 days ago )
Physicians criticize state lawsuits over pelvic mesh
Doctors who specialize in female pelvic medicine say lawsuits by four states over products used to treat pelvic floor disorders and incontinence might scare patients away from the best treatment options _ or maybe even push the products off the market
11:41AM ( 4 days ago )
AP Business - Small Business
Kidnapping suspect targeted girl after seeing her get on bus
Suspect in Wisconsin kidnapping decided to abduct girl after watching her get on school bus
11:24PM ( 26 minutes ago )
Honolulu city attorney targeted in federal corruption probe
The city of Honolulu's chief legal officer has received a target letter linked to an ongoing federal corruption investigation
11:21PM ( 29 minutes ago )
No. 7 Kansas holds on to beat Texas 80-78 at Phog
Lagerald Vick scored 21 points, Marcus Garrett added a career-high 20, and No. 7 Kansas held on to beat Texas 80-78 on Monday night when Jase Febres' 3 at the buzzer missed wide
11:19PM ( 31 minutes ago )
The Latest: Bouchard advances to 2nd round at Aussie Open
Eugenie Bouchard advanced to the second round at the Australian Open with a 6-2, 6-1 win over wild-card entry Peng Shuai
11:14PM ( 35 minutes ago )
Son sentenced for killing, dismembering mom in Hawaii
A man who admitted to killing and dismembering his mother in their Waikiki apartment has been sentenced to 30 years in prison
11:12PM ( 38 minutes ago )