Tax and Fee Cuts During China’s 13th Five Year Plan Expected to Total USD$1.16 Trillion


The Chinese government is hailing the positive economic impacts of mammoth tax and administrative fee cuts launched during China’s 13th Five Year Plan (2016 – 2020).

Data from China’s tax authorities indicates that tax and fee reductions for the period from 2016 to 2020 are expected to total around 7.6 trillion yuan (USD$1.16 trillion).

Efforts to reduce the tax burden for Chinese households and businesses saw an especially big boost in 2019, with tax and fee reductions reaching 2.36 trillion yuan, or more than 2% of China’s national GDP.

The Chinese government estimates that these tax reductions drove an increase in full year GDP growth of 0.8 percentage points.


Please enter your comment!
Please enter your name here