China unveils fresh stimulus package

China has unveiled new measures to boost its struggling economy in a fresh sign the ruling party is concerned about a slowdown.

The stimulus package includes tax breaks for small businesses, reduced fees for exporters and opening up of railway construction. The targeted reforms are expected to reduce state interference and allow companies more freedom to operate. China's cabinet said it wanted to "arouse the energy of the market". The tax cut for small businesses takes the form of the scrapping of VAT for companies with monthly sales of less than £2,100. The government is also temporarily cancelling inspection fees for commodities exports and simplifying customs inspections for manufacturers. Economic...