China’s new 5-year plan targets tax reform as local governments face fiscal strain
China's new five-year plan prioritizes tax reform to address fiscal strain on local governments. The plan aims to increase revenue through a more balanced approach, emphasizing "maintaining a reasonable macro tax burden" and strengthening central government authority over fiscal responsibilities delegated to local governments. The government work report also highlights the need to improve local tax systems and expand local tax sources as key policy goals for 2023.
6 MAR 2026
— South China Morning Post
Zhang Bin argues that achieving China's 2% inflation target is essential for achieving other economic goals.
9 MAR 2026
— Sixth Tone
China will increase spending on science and technology, infrastructure, and other key sectors by nearly 7.1% in 2026.
12 MAR 2026
— Al Jazeera
The National People's Congress concluded with the approval of China's 15th five-year plan, setting a growth target of 4.5 to 5 percent for the next five years.
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