China will implement value-added tax credit refunds on a large scale as part of an effort to sustain stable macroeconomic performance, it was decided at the State Council's Executive Meeting chaired by Premier Li Keqiang on Monday.

国务院总理李克强3月21日主持召开国务院常务会议，确定实施大规模增值税留抵退税的政策安排，为稳定宏观经济大盘提供强力支撑。

The VAT credit refund this year is worth around 1.5 trillion yuan.
今年增值税留抵退税规模约1.5万亿元。