Preferential tax policies aid China's poverty alleviation efforts

2020-12-03 03:22:05 GMT2020-12-03 11:22:05(Beijing Time) Xinhua English

BEIJING, Dec. 2 (Xinhua) -- China has implemented preferential tax policies to support poverty alleviation and has achieved fruitful results, the State Taxation Administration said Wednesday.

The country's poverty alleviation tax cuts surpassed 95 billion yuan (about 14.48 billion U.S. dollars) in the first 10 months of the year, up 38 percent year on year, said Wang Shiyu, an official with the administration, at a press conference.

During the period, the total sales revenue in 832 impoverished counties nationwide saw 13.3 percent year-on-year growth, revealing a sound economic recovery this year despite the influence of the COVID-19 epidemic, said Wang, citing value-added invoice data.

China aims to eliminate absolute poverty and achieve its goal of building a moderately prosperous society in all respects by the end of 2020. 

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