Extra fiscal support to serve Belt & Road
Print Edition
CHINA will strengthen financing and tax support to better serve the Belt and Road initiative.
The Ministry of Finance is forming an international financing cooperation center in a bid to build a long-term, stable, sustainable, risk-controllable and diversified financing system, Shi Yaobin, vice minister of finance, said yesterday on the sidelines of the annual session of the National People’s Congress.
The ministry will continue to push forward bilateral and multilateral tariff negotiations to encourage the building of free trade areas, promote mutual opening-up, and implement the tariff concession agreements already signed with countries along the routes.
China will facilitate international tax coordination and cooperation, contribute to eliminating discrimination in tax policy-making and implementation, while encouraging more countries to participate in the Base Erosion and Profit Shifting project, Shi said.
The Belt and Road initiative, proposed by China in 2013, aims to build trade and infrastructure networks connecting Asia with Europe and Africa along the ancient Silk Road trade routes to seek common development and prosperity.
So far, the initiative has gained support from more than 100 countries and international organizations, according to Shi.
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