'No more illegal tax cuts for investors'

Pressure mounts in meeting annual fiscal goal, minister of finance says

Senior officials in China have urged local governments to tighten their belts and stop offering illegal tax cuts to investors amid slumping revenues this year.

Liu Jiayi, director of the National Audit Office, the country's top auditor, has called for better supervision of the balance sheets of local governments and an end to illegal tax cuts for investors.