Key Points From China Government Work Report for 2018
(Bloomberg) -- Below are the main points from China's government work report released Monday in Beijing.
- Import tariff cut:
- China to lower import tariffs for vehicles and some consumer goods
- Internet/Telecom:
- China to cancel domestic Internet data roaming fees in 2018
- China to cut rates for mobile Internet services by at least 30 percent this year
- China to expand free wifi spots in public areas
- China to lower broadband charges for families and enterprises
- Opening up:
- China to expand opening to foreign investment in telecom, new energy vehicle, healthcare and education
- Tax and wages:
- China to cut taxes for enterprises, individuals by 800 billion yuan this year
- China to lift thresholds for levying personal income taxes, without elaborating
- China to adjust level of minimum wages reasonably this year
- Property:
- Govt reiterates that housing is not for speculation and aims to develop housing rental market
- China to steadily push forward legislation of property tax, without elaborating
- Capacity Cut:
- China to cut steel capacity by 30 million tons this year; to remove 150 million tons coal capacity
- Financial regulations:
- China's overall economic, financial risks controllable
- China to boost coordination among financial regulators
- China totally able to prevent systemic risks
- China to improve regulation for shadow banking, Internet financing
To contact Bloomberg News staff for this story: Jasmine Wang in Hong Kong at jwang513@bloomberg.net.
To contact the editors responsible for this story: John Liu at jliu42@bloomberg.net, Ken Wills
©2018 Bloomberg L.P.
With assistance from Jasmine Wang
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