China cuts taxes as it warns of ‘a hard struggle’ ahead

The Chinese government on Tuesday predicted economic growth of between 6% and 6.5% in 2019. That’s a decline from last year’s 6.6% rate of expansion, which was already China’s weakest performance in three decades.

“There has been a more complex and severe environment facing our country’s development this year,” Chinese Premier Li Keqiang said in a speech. “There are greater expected and unexpected risks and challenges, and we have to make full preparations for a hard struggle.”