financial policy

A 150-billion-yuan VAT Reform

From Economic Observer Online: A 150-billion-yuan tax cut formula under the Value-added Tax (VAT) Reform has been submitted to the Chinese State Council, and might come into effect on January 1 next year, tax officials told the...

Tax Dilemma for China’s Ministry of Finance

From Economic Observer Online: Corporate income tax is likely to be targeted as a major source to boost China’s state coffer as its Ministry of Finance faces increasing fiscal spending pressure from natural disasters and...

More Chinese bankers believe macro economy overheated – Beijing Time

From Beijing Time via China Economic Net: Latest survey by China’s central bank shows that 42.6 percent of bankers in the country believe that the macro economy is overheated, and 26.6 percent think the situation will continue. The People’s Bank of China and the National Bureau of Statistics quarterly send questionnaires to principals of all […]

China Should Buy Gold With Reserves, Central Bank Adviser Says – Bloomberg

From Bloomberg News (link) China should use its foreign-currency reserves, the world’s largest, to buy gold and oil as a hedge to guard against the risk of a sudden drop in the U.S. dollar, said a member of the central bank’s advisory board. China has about 1 percent of its reserves in gold, compared with […]

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