China will cut fees and taxes for companies this year - report
China will implement policies to cut fees and taxes for companies this year, according to a Xinhua report.
Citing senior official Han Zheng they say China will push forward reforms of state-owned enterprises, finance, electricity, oil and tech sectors. They will also ensure stable employment conditions.
The market is convinced that Chinese stimulus will be able to counteract any current economic weakness. It's also increasingly convinced that a US-China trade deal is coming. Neither of those things are particularly safe assumptions but the Shanghai Composite continues to recover.