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China’s New Tax Strategy: Collect More From the Rich, Reduce Corporate Burden

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China’s New Tax Strategy: Collect More From the Rich, Reduce Corporate Burden
Well-to-do Chinese customers gather for a special presentation of luxurious fur accessories for home decors in Beijing on Nov. 23, 2008. Gou Yige/AFP/Getty Images
He Qinglian
Updated:
News Analysis

The Chinese regime, struggling with economic malaise and trillions in insolvent debts, has restructured its tax system to boost revenues. Per the reforms, which come into effect on Jan. 1, new measures will be introduced to tax wealthy individuals and crack down on tax evasion. Meanwhile, corporate taxes will be reduced so as to aid struggling firms and encourage innovation.

He Qinglian
He Qinglian
Author
He Qinglian is a prominent Chinese author and economist. Currently based in the United States, she authored “China’s Pitfalls,” which concerns corruption in China’s economic reform of the 1990s, and “The Fog of Censorship: Media Control in China,” which addresses the manipulation and restriction of the press. She regularly writes on contemporary Chinese social and economic issues.
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