China is phasing out VAT rebates as it looks to curb excess capacity, push technology upgrades and ease trade tensions, according to economist Michael Pettis. T

BWB News TV • 2026-07-22 05:11 UTC • By Billy Odell Tucker-Robinson

China is phasing out VAT rebates as it looks to curb excess capacity, push technology upgrades and ease trade tensions, according to economist Michael Pettis. The shift could also free fiscal resources for more household support.

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