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VAT-reform program
VAT-reform program
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A pilot program to replace the business tax with a value-added tax in the transport sector and certain service sectors will be rolled out to other sectors nationwide on Aug 1, the Finance Ministry announced on May 28. As well as transport and some modern service sectors including research and development, information technology and consulting, the program will be expanded to radio, film and television industries, according to a notice on the ministry's website.
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  • By Chen Jia(China Daily)2017-12-08 08:02

    Global financial organizations acknowledged China's achievements in recent economic and financial reforms after a two-year comprehensive evaluation of the country's financial sector, while providing recommendations for enhancing risk supervision. The International Monetary Fund and the World Bank G...

  • (China Daily)2017-12-07 07:35

    In the wake of decades of rapid development, Foshan is playing a leading role in the economic and social landscape of Guangdong province. Since the implementation of the national reform and opening-up policy, the GDP of Foshan has maintained an annual growth rate of 16 percent on average over the l...

  • (China Daily)2017-12-06 08:37

    A REPORT PUBLISHED BY A MAGAZINE affiliated to the Supreme People's Procuratorate that exposes corruption in the sports administration departments of various levels has gained wide attention on the social media. China Youth Daily commented on Tuesday: The report offers some detailed depictions of t...

  • 2017-12-05 11:36

  • 2017-12-05 08:57

  • By Zheng Bingwen(China Daily)2017-12-05 08:00

    The State Council, China's Cabinet, recently decided to transfer 10 percent equity shares of State-owned enterprises and financial institutions to the National Council for Social Security Fund. A pilot program for such transfers will be launched in some central SOEs by the end of this year, and grad...

  • (Xinhua)2017-12-02 12:59

    HEFEI - China will expand its rural land ownership reform to more counties in the next year in its latest effort to bolster agriculture and the rural economy. A total of 300 counties will be covered in the pilot program, up from current 129, Vice-Agricultural Minister Ye Zhenqin said Friday at a mee...

  • (Xinhua)2017-12-01 09:24

    BEIJING — Taxation will play a larger role in China's drive to conserve more water as a water resource tax program is expanded. Starting Friday, nine provincial regions, including Beijing, Inner Mongolia and Ningxia will begin using a new water resource tax, following trials in North China's Hebei...

  • By Zhang Yue(China Daily)2017-11-28 07:49

    Ministries responded to a series of recent public concerns, including updates on the reform of State-owned Enterprises. SOEs to go through continued reform China has picked 31 State-owned enterprises for the third round of SOE mixed ownership reform with the aim of attracting more private capital in...

  • (Xinhua)2017-11-27 17:03

    BEIJING — China's major industrial firms saw stronger profit growth in the first 10 months of this year as progress is being made in the country's supply-side structural reform. Industrial companies with annual revenue of more than 20 million yuan (about $3.03 million) reported profits of 6.245 tr...

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