The Chinese government has pledged to equally treat suppliers from home and abroad in terms of government procurement, as it aims to safeguard a level playing field in accordance with the nation s foreign investment law and protect foreign companies legal interests.
China’s Likely Bid for Tax Exemption Poses Risk to Global Accord
Bloomberg 2 hrs ago
(Bloomberg)
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Rich nations are bracing for China to seek exemptions from a global minimum corporate tax, a potential stumbling block for governments racing to reach wider international consensus on the plan next month.
Some officials see China as not easily signing on to the global minimum tax rate of at least 15% endorsed by Group of Seven finance ministers last week, people familiar with the discussions said on condition of anonymity because of the sensitivity of the talks.
China: Fiscal deficit ratio pruning likely in 2021
Policymakers are considering the possibility of moderately bringing down the fiscal deficit ratio and reducing the local government special bond quota in 2021, to further consolidate the sustainability of fiscal measures and bolster economic activity, experts said.
Sustainable support from fiscal measures, especially to increase government-led investment, will hinge largely on the effective budget performance, which will concentrate funds in important areas, along with taxes, fee cuts and reforms of the local government’s tax system, experts said after the Central Economic Work Conference, the bellwether meeting for the formulation of economic policy, which ended on Friday in Beijing.
Fiscal deficit ratio pruning likely in 2021 By CHEN JIA | China Daily | Updated: 2020-12-22 09:14 Share CLOSE An employee of Lin an Rural Commercial Bank counts banknotes at the bank s branch in Xitianmu area in Hangzhou, capital of Zhejiang province, on Feb 25. [Photo by Hu Jianhuan For China Daily]
Policymakers plan reductions in local government special bond quotas
Policymakers are considering the possibility of moderately bringing down the fiscal deficit ratio and reducing the local government special bond quota in 2021, to further consolidate the sustainability of fiscal measures and bolster economic activity, experts said.
Sustainable support from fiscal measures, especially to increase government-led investment, will hinge largely on the effective budget performance, which will concentrate funds in important areas, along with taxes, fee cuts and reforms of the local government s tax system, experts said after