March 7, 2019 / 2:25 AM / 13 days ago

China tax cuts to squeeze local govt budgets this year -finmin

BEIJING, March 7 (Reuters) - China’s finance minister warned on Thursday that some local governments will face more budgetary pressure this year amid a slowing economy and more tax cuts planned by the central government.

Some regions have already had difficulties paying salaries, maintaining operations and social security, finance minister Liu Kun told a news conference on the sidelines of an annual parliamentary meeting in Beijing. (Reporting by Yawen Chen and Ryan Woo Editing by Darren Schuettler)

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