Mainlyfocusingontechinnovationandadvancedmanufacturing,China'staxandfeereductionsduringthe14thFive-YearPlanperiod(2021-2025)areexpectedtohit10.5trillionyuan(US$1.46trillion),bringingtangiblebenefitstomarketplayersandresidentsandinjectingstrongmomentumintohigh-qualitydevelopment,saidaseniorofficialoftheStateTaxationAdministrationonMonday.