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China announced stronger-than-expected tax cuts

China will cut taxes and fees on a larger scale in 2019, by nearly 2 trillion yuan ($298.31 billion), in a move to reinvigorate the economy that is growing at the slowest pace in three decades, according to the government work report delivered by Premier Li Keqiang on Tuesday at the opening of "two sessions" - China’s annual gathering of its legislative and political advisory bodies.

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