From the FINANCIAL TIMES:
China is to lift the exemption threshold for personal income tax payments in an effort to redistribute the spoils of rapid growth and reduce a widening wealth gap.
The level at which Chinese citizens must pay income tax will be raised from Rmb2,000 ($305) a month to Rmb3,000, the finance ministry said on Wednesday.,,
Other policies include a promise to raise average wages by 15 per cent a year and so double average wages by the end of 2015. The government has been increasing statutory minimum wages over the past year and intends to build 35m units of low-income housing over the next five years…
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