Hey there, business enthusiasts! 🙌 China's small and micro-sized businesses are on a roll! In the first nine months of 2023, they've enjoyed a whopping 946.1 billion yuan ($131.4 billion) in tax cuts, marking a 6.7% increase compared to last year. 📈
These businesses are the unsung heroes, playing a crucial role in boosting employment, energizing markets, and improving people's lives. 🎉 The State Taxation Administration is all in, syncing up taxation reforms with tax and fee cuts to lighten the load on these enterprises. 🛠️💡
Over the past five years, the total tax relief for small and micro-sized businesses has surpassed an incredible 5 trillion yuan! 🤯 That's some serious support for the backbone of China's economy. 💪
Looks like it's a great time to be a go-getter in China! 🚀 Who's ready to start the next big thing?
Reference(s):
China's small businesses enjoy more tax cuts in first 9 months
cgtn.com
