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China Outlines Economic System Reforms in 2010
Source: English.news.cn
Source Date: Monday, May 31, 2010
Focus: Institution and HR Management
Country: China
Created: Jun 07, 2010

China's State Council, or the Cabinet, said Monday it will "gradually push forward" property tax reform as part of this year's economic reforms. The government will deepen fiscal and taxation system reforms by gradually advancing property tax reform, reforming resource and environment taxes, researching and implementing the personal income tax reforms, and improving consumption tax systems, the statement posted online said. But the statement did not detail the property tax reform plan. The circular also listed other economic reform goals, including requiring governments at all levels to deepen reform of state-owned enterprises and further encourage the development of the private sector.

Other aims include raising people's income to reduce obstacles to the transformation of the nation's economic growth mode. Broadcasting and telecom operators are also urged to accelerate pilot programs aimed at converging telecoms networks, broadcasting and the Internet and break down regulatory barriers between the industries. The government should reduce hurdles curbing private investments and open more sectors to private companies, the statement said.
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