Toipic 1: China's value-added tax reform has reduced taxes of more than 40 billion yuan ($6.4 billion) for more than 1 million taxpayers in 12 pilot regions, according to the Finance Ministry.

The reform replaces turnover tax with a value-added duty in transport and some service sectors. The ministry said the reform had reduced the burden on lower taxpayers by an average of 40 percent.

The reform will be expanded to more areas, the ministry said.