Progress in fiscal reform is key to transforming China
BEIJING | Via Caixin | Changes to China’s tax and fiscal framework have become the vanguard for the “deep and comprehensive” reforms the country has pledged in an effort to overhaul its economy and society. On June 30, the Communist Party’s top leaders endorsed a slate of tax and fiscal reform measures to be put in place by 2016, so a modern tax system could be up and running by 2020. In August, the National People’s Congress Standing Committee adopted the revised Budget Law.