China's Premier Li: Will implement larger tax and fee cuts

China’s Premier Li Keqiang said on Wednesday that they will ensure stable economic operations in the first quarter, as reported by Reuters.

"We will implement larger tax and fee cuts," Li noted and added that they will step up transfer payments for local governments while providing targeted support to COVID-affected sectors such as services.

Market reaction

These comments don't seem to be having a noticeable impact on market sentiment. As of writing, the Nasdaq Futures were down 0.33% on the day and the S&P Futures were unchanged.