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Local levies, direct taxes to improve public services, redistribute wealth

Industrial firms' H1 profits up 67% By Cheng Yu | China Daily | Updated: 2021-07-28 08:59 Share CLOSE A technician works on the production line of an aluminum product manufacturer in Qinhuangdao, Hebei province. [CAO JIANXIONG/FOR CHINA DAILY] First-half revenues of China's major industrial companies saw a steady recovery, yielding almost 67 percent year-on-year surge in their combined profit, but private enterprises and smaller firms still face big challenges in their attempts to grow their profits, officials and industry experts sai...

China’s Likely Bid for Tax Exemption Poses Risk to Global Accord Bloomberg 2 hrs ago (Bloomberg) -- Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. 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 discussion...

Central region growth is focus of new guideline By ZHANG YUE | China Daily | Updated: 2021-04-23 09:09 Share CLOSE Six provinces have made tremendous efforts to facilitate national economic upgrading work The recently released guideline on boosting high-quality development in Central China is expected to better facilitate industrial upgrading, attract more talented individuals and unleash their full potential in the new economy, experts and industry insiders said. On March 30, during a meeting of the Political Bureau of the Communist Part...

China is expected to continue its tax and fee cuts this year as part of the ongoing efforts to provide more support for small businesses, stabilize employment and spur innovation, a leading public finance expert said.