BEIJING, (Reuters) – China will take a series of specific and aggressive measures to boost its economy, the Chinese cabinet said Monday.

According to the Cabinet, China would like to return to normal economic operation, it was stated.

According to cabinet statements, the government would offer tax credit rebates to additional sectors and will increase annual tax cuts of more than 140 Billion Yuan ($21.06Billion) to 2.64 Trillion yuan.

China is also expected to lower some taxes on the purchase of passenger cars, as reported by state media.

($1 = 6.6470 renminbi)