China’s tax, fee cuts exceed 910 bln yuan in first three quarters

This photo illustration taken on Feb 9, 2017 shows Chinese 100 yuan notes in Beijing. (FRED DUFOUR / AFP)

BEIJING – China's tax and fee cuts totaled 910.1 billion yuan ($142.25 billion) during the first three quarters of the year, according to data from the State Taxation Administration.

Some 788.9 billion yuan of taxes and 121.2 billion yuan of fees were reduced, according to the administration.

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Since the beginning of this year, a mix of tax and fee cuts have been announced to alleviate financial burdens on businesses and strengthen market vitality, the administration said.