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Technicians of Semiconductor Manufacturing International Corp inspect the company's facilities in Beijing. [Photo/Xinhua]

Tax burden on businesses will be further eased by around 350 billion yuan (51 billion U.S. dollars), a goal set forth in this year's government work report in March. The government will further streamline tax structure as well as creating a flatter and more transparent taxation regime.

Tang said the healthy data indicated China's resolve to deepen business reforms, which in turn will spur entrepreneurship and boost the market.

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Tax and fee cuts, further reduction of financial institutions' cash reserves and a strong wave of infrastructure investment will support the economic recovery, and finally achieve the annual target of between 6 to 6.5 percent growth, said Zhang Ping, deputy head of the National Institution for Finance and Development under the CASS.

Tariff hikes do no help any parties, Wang Shouwen, vice-minister of commerce, told a press conference during the two sessions on Saturday.

TechCrunch reported?the app was removed from the App Store this weekend, but a?separate story?by Reuters laid out which?delivery methods?eBay could be?focusing on next. An executive told Reuters eBay?was investigating?enabling some of its smaller marketplace sellers, who make annual sales under 0,000, to allow shoppers to pick up items they buy online?in?participating stores, like Best Buy or Target.

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Tech workers, labor unions, and housing advocates pack Seattle City Hall to debate tax on big business

Tax revenue saw a 5.4-percent climb to 4.67 trillion yuan, however, the growth continued to slow down. The Q1 tax revenue growth dropped 11.9 percentage points year on year.

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Takahashi tracked China's momentous changes in the past 40 years although he was posted in the United States, Indonesia and Mexico during the period. For him, innovative business models and outlandish technologies that originated in China hold great fascination.

Tax cuts for private businesses have been very much part of the government's agenda since 2012, when a pilot program to replace business tax with VAT was introduced in Shanghai.