Over the past decade since a key Party plenum in 2012, China has succeeded in making a bigger fiscal “cake,” with an average annual gain of 6.9 percent in its fiscal revenue, Vice Finance Minister Xu Hongcai said on Tuesday. The country’s increased fiscal capacity, adding to its unwavering push for fiscal and taxation reforms .
Effective investment is expected to play a more important role this year as challenges in growth continue to mount, and new investment models may inject new impetus for economic expansion, industry experts said.
SHANGHAI (China Daily/Asia News Network): A top-level decision to authorise the State Council, China's Cabinet, to pilot property tax reforms in several regions will finally end long-standing speculation about the levy, according to experts.
Hiking taxes wouldn’t seem difficult in the one-party state. But the Communist Party is sensitive to public opinion, and taxes are as politically fraught in China as anywhere else.