Liu Kun: Entrusted at the crucial moment

Taking the job at one of the most turbulent times in global economy, China's finance minister is trying with his best effort to maintain a steady, positive development of the economy.

Liu Kun has only been China’s minister of finance since March 2018 but already he seems more active than his predecessor Xiao Jie. But then he’s had to be, given how the US trade dispute has dragged on business, consumer and investor confidence, with Chinese shares dropping and GDP growth decelerating to its slowest pace in almost 30 years.

Having cut value-added tax rates in May, the Ministry of Finance raised the minimum threshold for personal income tax in October and announced new individual income-tax deductions for certain categories of goods and services such as children's education, housing loan interest, rent and elderly care.

But, say some...

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