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China tax cuts to squeeze local govt budgets this year

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Some regions have already had difficulties paying salaries, maintaining operations and social security, finance minister Liu Kun told a news conference on the sidelines of an annual parliamentary meeting in Beijing.

 

[BEIJING] China's finance minister warned on Thursday that some local governments will face more budgetary pressure this year amid a slowing economy and more tax cuts planned by the central government.

Some regions have already had difficulties paying salaries, maintaining operations and social security, finance minister Liu Kun told a news conference on the sidelines of an annual parliamentary meeting in Beijing.

REUTERS

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