From The New York Times:
BEIJING, March 8 ” China’s national legislature began deliberating Thursday on a landmark law that would provide legal protections for private property as well as a law that would gradually equalize corporate taxes on foreign and domestic corporations.
The two pieces of legislation are a result of years of debate within the Communist Party. They are intended to protect private wealth, create more coherence in the tax code and continue the country’s market-driven economic reforms. The property law is particularly symbolic, because it writes private property into the evolving legal code of a country that is growing rich on capitalism but nominally remains a socialist state…
The proposed law on corporate taxes has also been under discussion for several years. For years, China has offered tax incentives and lower rates to foreign corporations, a package that has helped attract record amounts of foreign investment. Domestic companies also receive certain tax preferences, but many resent the tiered tax-rate structure. [Full Text]
Also see Washington Post article on the property law
Professor Wu Wenbo’s research about private property rights in China
