China's value-added tax credit refunds topped 420.2 billion yuan ($65.9 billion) in the first half of April, data from the State Taxation Administration showed on Tuesday. The refunds benefited 527,000 taxpayers in the period.

国家税务总局4月19日发布的数据显示，自本月实施大规模留抵退税政策以来，4月1日至15日，已有4202亿元留抵退税款退到52.7万户纳税人的账户。

To improve the cash flow of enterprises, promote consumption-driven investment and further improve the system for refunding VAT credits, China is set to issue VAT credit refunds on a large scale in 2022 according to this year's government work report.
今年政府工作报告指出，综合考虑为企业提供现金流支持、促进消费投资、大力改进增值税留抵退税制度，今年对留抵税额实行大规模退税。

Tax refunds and cuts are expected to total 2.5 trillion yuan, while VAT credit refunds will account for 1.5 trillion of the sum and go straight to enterprises.
预计全年退税减税约2.5万亿元，其中留抵退税约1.5万亿元，退税资金全部直达企业。