China Fiscal Policy Revamp Faces Hurdles by U.S.

Description: China Fiscal Policy Revamp Faces Hurdles by U.S. - China Economic and Security Review, U.S. - China Economic, Security Review During his first year in office, President Xi Jinping put fiscal reform back on top of Chinas policy agenda. The Party Politburo followed the presidents lead in June, promising to finish major fiscal and tax reform tasks by 2016 and establish a modern fiscal system by 2020.1 Among the proposals is the elimination of a tax that discriminates against services companies, adding a recurring tax on property, and imposing a price-based tax on coal, along with measures to improve budget management. China last overhauled its tax-and-spend system in 1994, when the countrys economy was much smaller and its accession to the World Trade Organization was in doubt. The economy took off in the ensuing years, but the fiscal system remained largely unaltered. Fiscal reform in the worlds second-largest economy now carries significant implications for U.S. businesses and the world economy. Why now? Finance Minister Lou Jiwei, after six years as Chairman of China Investment Corporation (Chinas sovereign wealth fund), wants to make his mark as a reformer. The government is also facing gaps in the budget. An audit commissioned last fall by Premier Li Keqiang revealed local governments across the country are mired in debt that will soon mature and must either be rolled over or retired with new revenue. FORMAT Paperback LANGUAGE English CONDITION Brand New Details ISBN1502738600 Short Title CHINA FISCAL POLICY REVAMP FAC Pages 28 Language English ISBN-10 1502738600 ISBN-13 9781502738608 Media Book Format Paperback Year 2014 Publication Date 2014-10-07 Imprint Createspace Independent Publishing Platform Author Security Review Publisher Createspace Independent Publishing Platform Audience General We've got this At The Nile, if you're looking for it, we've got it. With fast shipping, low prices, friendly service and well over a million items - you're bound to find what you want, at a price you'll love! TheNile_Item_ID:93338914;

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