Cab­i­net made three de­ci­sions

China Daily (Hong Kong) - - POLICY REVIEW -

On Nov 29, the State Coun­cil, China’s Cab­i­net, held an ex­ec­u­tive meet­ing, presided over by Pre­mier Li Ke­qiang, and made two ma­jor de­ci­sions. The meet­ing heard re­ports on the re­form that low­ers the tax bur­den of busi­nesses by com­pre­hen­sively re­plac­ing busi­ness tax with value-added tax, and de­cided to re­turn a cer­tain amount of the new tax to lo­cal gov­ern­ments to help lo­cal de­vel­op­ment; it also heard re­ports on the su­per­vi­sion of cen­tral State-owned en­ter­prises, and de­cided to strengthen reg­u­la­tory mea­sures to raise the ef­fi­ciency of cen­tral SOEs.

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