CAI MENG/CHINA DAILY The third plenary session of the 20th Central Committee of the Communist Party of China in July unveiled a series of measures to reform the country’s fiscal and tax system, which has pointed the way toward a new round of reforms. Historically, such reforms have achieved their expected goals and laid the … Continue reading The right way of advancing fiscal system reform
Tag: governments
Central-local fiscal ties in the spotlight
A woman shows banknotes and coins included in the 2019 edition of the fifth series of the renminbi. [Photo/Xinhua] China is expected to make more efforts to optimize the fiscal relationship between the central and local governments, thereby strengthening fiscal sustainability while ensuring macroeconomic adjustment capability, to further unleash development potential of the Chinese economy, … Continue reading Central-local fiscal ties in the spotlight
Fiscal, tax system reforms key to development
CAI MENG/CHINA DAILY The Central Economic Work Conference held in December proposed to arrange a new round of fiscal and tax system reform measures. The proposed fiscal and tax system reforms should be in line with the current stage of China’s economic and social development. In 1994, the tax-sharing system was initiated, marking the beginning … Continue reading Fiscal, tax system reforms key to development