China to cut more taxes to support small and high-tech companies

BEIJING (Reuters) - China will cut more taxes to support small and micro firms and high-tech companies, state radio quoted the cabinet as saying on Wednesday after a meeting.

The government rolled out seven measures that are expected to cut more than 60 billion yuan ($9.5 billion) in taxes for small and high-tech companies this year, state radio said.

($1 = 6.3195 Chinese yuan renminbi)

(Reporting by Beijing Monitoring Desk)