China to step up tax cuts, keep liquidity ample to support growth in 2019 By Reuters

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© Reuters. FILE PHOTO: A man works near apartment blocks under construction on the outskirts of Beijing, China


© Reuters. FILE PHOTO: A man works near apartment blocks under construction on the outskirts of Beijing, China

BEIJING (Reuters) – China will step up tax cuts and keep liquidity ample in 2019 to help stabilize economic growth, according to a statement issued by the official Xinhua news agency, following an annual economic meeting of the country’s top leaders.

China will maintain its pro-active fiscal policy and prudent monetary policy next year, Xinhua said.

Beijing will increase its quota of local governments’ special bond issuance by a relatively large scale in 2019 and strive to resolve financing difficulties for small and private firms, it said.

The government aims to keep next year’s economic growth within “a reasonable range”, Xinhua said.

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