May 25, 2019
Latest News

China's Li says country must take stronger steps to face economic uncertainty

Beijing, Mar 15 (efe-epa).- The Chinese Premier Friday acknowledged that the government must take stronger measures against the economic uncertainties facing the country this year.

At a press conference following the close of the annual session of the National People's Congress, Li Keqiang spoke of the importance of maintaining stable economic growth to promote long-term growth.

He expressed confidence that the Chinese economy will continue to play a stabilizing role in the global economic situation.

Li said that the downward adjustment in GDP growth forecasts - in 2018 it was projected to increase 6.5 percent but in the end GDP rose 6.6 percent while that of 2019 is predicted to come in at between 6 percent and 6.5 percent - is used to send a message of stability to the market.

He added that there would be significant growth that was indicative of China's progress.

The 6.6 percent growth recorded in 2018 was the lowest since 1990 and proof of the economic slowdown faced by China.

As for the solutions offered by the government, Li spoke of energizing market players to cope with the slowdown.

In terms of taxes, one of the key measures of the communist regime for this year, Li reiterated that tax cuts will be of a greater extent this year, citing the figure of about 2 trillion yuan ($298 billion).

He explained that reducing a percentage point each year would not be enough for companies.

Li said that on Apr. 1, measures to reduce value added tax will enter into force and, on May 1 there would be reduction of social security contributions, two factors that he considered to be the best methods to relieve the burden for companies.

Regarding the sustainability of this new fiscal policy, Li stressed that his government has calculated these figures properly with the aim of revitalizing the market to achieve more dynamic development.

He added that the government will reduce public service budgets and use tax reserves to cope with falling government revenues.

Li said the manufacturing sector along with small and medium sized enterprises are a major job creation source and these measures would relieve the fiscal burden on them, leading to more jobs.

News history
Waiting in long lines to buy food is Cuba's current crisis and biggest joke

By Atahualpa Amerise

Mexico's plans for embattled energy sector spark criticism

Eduard Ribas i Admetlla

Champions final to generate 123 million euros, 66 million will stay in Madrid

Madrid, May 24 (efe-epa).- The UEFA Champions League final between Tottenham Hotspur and Liverpool at the Wanda Metropolitano stadium in Madrid will...

Experts stress using digital tools to make Colombian companies more dynamic

Cali, Colombia, May 23 (efe-epa).- Increasing human beings' use of digital tools is the vehicle whereby Colombia's business sector will develop, several...

Trump pledges another $16 bn for farmers hurt by Chinese tariffs

Washington, May 23 (efe-epa).- President Donald Trump on Thursday approved a second aid package for US farmers, this one for $16 billion, with the aim of...

China, Brazil agree to boost trade, cooperation

Beijing, May 23 (efe-epa).- The vice presidents of China and Brazil presided here Thursday over the fifth gathering of the Sino-Brazilian High-Level...

ECB officials warned Eurozone economy may not rebound as expected

By Tom Fairless

Xi pushes for innovation so that China wins the new technological Cold War

By Jesus Centeno

FAA's acting chief won't predict when Boeing 737 MAX will return to flight

By Andy Pasztor

Deutsche Bank CEO signals more cuts to investment bank

By Jenny Strasburg

Israel blockades stem exports from Gaza

By Laura Fernández Palomo

Carlos Ghosn attends first preliminary hearing in Tokyo ahead of trial

Tokyo, May 23 (efe-epa).- The former head of Nissan and Renault on Thursday attended the first preliminary hearing ahead of his trial, as his defense team...

Massive seaweed influx in Cancun's hotel zone

Cancun, Mexico, May 22 (efe-epa).- The hotel zone along the beaches in the Mexican resort city of Cancun on Wednesday experienced a massive influx of...

Journalism in digital age must rethink how to reach its audience

By Gina Baldivieso

Geneva, May 22 (efe-epa).- Venezuela's health minister said here Wednesday that economic sanctions imposed by Washington are to blame for shortages of...

Bucking US sanctions, American Airlines expands flights to Cuba

Havana, May 22 (efe-epa).- American Airlines, the leading international carrier serving Cuba, said Wednesday that it intends to offer additional flights to...

The UK's British Steel begins insolvency proceedings

London, May 22 (efe-epa).- British Steel Ltd., the United Kingdom's second-largest steelmaker, has started insolvency proceedings after the country's High...

Rare earths emerge as China's possible trump card in trade war against US

Jesus Centeno

India's antitrust watchdog surveys e-commerce firms including Amazon, Walmart

New Delhi, May 22 (efe-epa).- India's antitrust watchdog is assessing the domestic e-commerce sector, a step that could have consequences for Amazon.com...

Internal review reveals sexual assault cases in New Zealand parliament

Sydney, Australia, May 22 (efe-epa).- The New Zealand parliament on Wednesday admitted that at least three cases of serious sexual assault had taken place...

UN forecasts global economy to grow 2.7 pct. in 2019, 2.9 pct. in 2020

United Nations, May 21 (efe-epa).- The United Nations on Tuesday downgraded its forecast for world economic growth, announcing that it expects overall...

Plastic waste being made into ecologically friendly houses in western Mexico

By Mariana Gonzalez

Dr. AI comes to aid of China’s ailing healthcare

By Paula Escalada Medrano

Italian airline Alitalia cancels more than 280 flights due to strike

Rome, May 21 (efe-epa).- Italian airline Alitalia has canceled more than 280 flights on Tuesday amid a national 24-hour strike called by air sector unions.

I agree Welcome to news4europe.eu. We use cookies to improve your online experience. Find out more.