China cuts taxes, sees ‘tough struggle’ as growth slows

BEIJING: China’s premier warned that the country faces a “tough struggle” as he unveiled tax cuts to prop up a stuttering economy while increasing military spending to nearly US$180bil (RM733bil).

China’s premier warned that the country faces a “tough struggle” as he unveiled tax cuts to prop up a stuttering economy while increasing military spending to nearly US$180bil .

The slowdown and US trade war have become major challenges for President Xi Jinping, a year after becoming the country’s most powerful leader since Mao Zedong with the abolition of term limits and etching of his name into the constitution.

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