A property bill that will give a historic boost to the concept of private ownership in China will be submitted to the national legislature in March, officials said.
Members of the National People’s Congress Standing Committee said at the conclusion of a week-long review of key legislation that they also will submit a bill that eliminates preferential tax rates enjoyed by foreign corporations.
…The sweeping bill more deeply enshrines individual property rights, and has provoked controversy in a nominally Communist country where the concept of private ownership was once stamped out. [Full Text]
Read CDT’s earlier post: “China’s Parliament Takes up Law to Equalize Taxes on Foreign, Domestic Companies.”