(Yicai Global) Dec. 25 -- China has reduced enterprises' financial burdens as promised during the first 10 months of this year. 

China cut companies' taxes by CNY1.65 trillion (USD235.7 billion) and lowered their social insurance fees by CNY321.6 billion (USD45.9 billion), the State Council released in a report today. The total reached CNY1.97 trillion (USD281.5 billion), which was nearly the CNY2 trillion target given in March. That is about 2 percent of the nation's expected gross domestic product for this year. 

Editor: Emmi Laine