China has risen as a key global economic development engine and player over the past three decades. An evidentiary lynchpin derived from such mighty economic advances is China’s gradually escalating role to be a discourse power drive from a passive norm taker in various international arenas. China should play a more important role in designing…
China’s fiscal and tax reform should aim to narrow down income disparity and facilitate income redistribution to realize social equity. Justifiably, Chinese citizens’ perception to the rich has been different and subtle, given the suspicion that the rich grows wealth through unethical rent-seeking or corruption. The philanthropic tradition and culture were squandered by uncivilized spending…
China has made vast strides in environmental protection in the past decade. The Decision further indicates that “ecological civilization” a key development goal for China. Various schemes are being tried to curb harmful emissions, for example, a cap-and-trade system is already up and running in Shenzhen, Guangdong, and is slated to expand into six other…
Reform Path Forward for China’s Tax Law Reform The observation on the current fiscal and tax system helps China to improve and execute a profound tax system to realize goals proposed in The Decision as well as tackling new challenges arising therefrom. Fiscal and tax policies do not stand alone and must follow the…
In my previous post, I discussed the budget law related reform updates in China. This post continues such discussion by reviewing issues of China’s tax administration and transfer payment systems. Tax Administration and Collection China’s tax administration and collection system is unique in two ways. First, over 70% of the tax revenue is generated through…
I would like to use eight to ten posts to discuss the status quo of China’s fiscal and taxation law system and proposals for reform thereto. This first post will discuss the most recent development on PRC Budget Law. State budget is a systematic tool to carry out a country’s laws and policy decisions, balance allocable…
