China's Annual Political Season: Chinese residents, businesses welcome tax cuts

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02:18

China's National People's Congress has pledged to roll out more tax cuts in 2019. It's hoped the intervention-designed to lighten the burden on small and medium enterprises, as well as key sectors such as manufacturing-will give more breathing space to the private sector and establish a more productive business environment. CGTN's Uche Okoronkwo talked to some Beijing residents about the move.

UCHE OKORONKWO BEIJING "We are taking to the streets of Beijing now to find out what people think about NPC's decision to further cut taxes."

BEIJING RESIDENT "I think for ordinary people, the tax cuts can increase our income, so we can further improve our quality of life. So I think it is good news."

BEIJING RESIDENT "I think it can support growth of the economy and make our lives easier. That's what's important for China now."

BEIJING RESIDENT "I think the government is making a sacrifice by cutting the value added tax. It is a big cut. It might greatly lower the burden for businesses."

BEIJING RESIDENT "I'm sure people will appreciate the tax cuts, especially in terms of income tax. It means more money for ordinary employees."

HR PERSONNEL "It means lower burdens for businesses. Then companies can invest more money into things such as R&D or employees' welfare."

SMALL BUSINESS OWNER "My business might be able to pay less tax now. I'm glad. It means less burden for my business."

UCHE OKORONKWO BEIJING "As you heard there, the word on street is that these tax cuts will be beneficial. For the businissman, it will be lower his finiancial burden. For the average man, it put more money in the pocket to spend on more important things."