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China plans more tax cuts to spur consumption, vice finance minister says 

Key Points
  • Chinese finance ministry has pledged a more active fiscal policy to help bolster China's slowing economy.
  • China is planning more tax cuts to help spur domestic consumption, Vice Finance Minister Zou Jiayi told Reuters on Thursday.
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Chinese consumers are becoming wary of spending

China is planning more tax cuts to help spur domestic consumption, Vice Finance Minister Zou Jiayi told Reuters on Thursday.

The finance ministry has pledged a more active fiscal policy to help bolster China's slowing economy.

China will provide $30.72 billion in new funding to poor areas from 2018 to 2020, Zou said on the sidelines of a forum in Beijing.