China will implement consumption tax reform step-by-step, vice Finance Minister says

07/30/2024

Less than a minute

2024.07.30 23:00

BEIJING (Reuters) – China will implement consumption tax reform step-by-step and standardise management of local governments’ non-tax revenues, Vice Finance Minister Wang Dongwei said at a press conference in Beijing on Wednesday.

© Reuters. FILE PHOTO: Wang Dongwei, a vice finance minister of China, is seen before the start of a plenary session of the Development Committee at the World Bank during the 2023 Spring Meetings in Washington, U.S., April 12, 2023. REUTERS/Elizabeth Frantz/File Photo

China will also strengthen fiscal policy adjustments and deepen fiscal and tax reforms, Wang said.

According to a Communist Party meeting this month, local administrations will gradually be allowed to retain more of the consumption tax, which is currently transferred to the central government and accounts for almost a tenth of all revenues.

07/30/2024

Less than a minute

Bitcoin (BTC) $ 63,462.00 1.31%

Ethereum (ETH) $ 2,580.74 2.71%

Tether (USDT) $ 1.00 0.02%

BNB (BNB) $ 589.41 3.15%

Solana (SOL) $ 150.67 1.26%

USDC (USDC) $ 1.00 0.01%

XRP (XRP) $ 0.587372 0.44%

Lido Staked Ether (STETH) $ 2,579.99 2.71%

Dogecoin (DOGE) $ 0.110511 1.31%

the-open-network

Toncoin (TON) $ 5.72 2.05%

Cardano (ADA) $ 0.383856 0.59%

TRON (TRX) $ 0.15053 0.49%

Avalanche (AVAX) $ 27.57 0.07%

Wrapped stETH (WSTETH) $ 3,044.46 2.56%

wrapped-bitcoin

Wrapped Bitcoin (WBTC) $ 63,292.96 1.24%

Shiba Inu (SHIB) $ 0.000016 5.65%

Chainlink (LINK) $ 12.18 2.03%

WETH (WETH) $ 2,580.05 2.69%

Bitcoin Cash (BCH) $ 346.31 0.19%

Polkadot (DOT) $ 4.73 3.17%

NEAR Protocol (NEAR) $ 5.24 1.47%

Dai (DAI) $ 1.00 0.03%

LEO Token (LEO) $ 5.75 3.44%

Uniswap (UNI) $ 6.85 0.84%

Litecoin (LTC) $ 67.28 1.40%

Sui (SUI) $ 1.70 1.82%

Artificial Superintelligence Alliance (FET) $ 1.67 3.25%

internet-computer

Internet Computer (ICP) $ 9.15 2.26%

Wrapped eETH (WEETH) $ 2,700.91 2.81%

Bittensor (TAO) $ 554.92 0.41%

Aptos (APT) $ 8.07 0.94%

Kaspa (KAS) $ 0.162492 0.91%

Pepe (PEPE) $ 0.000009 1.19%

Monero (XMR) $ 166.79 1.49%

polygon-ecosystem-token

POL (ex-MATIC) (POL) $ 0.413193 1.35%

first-digital-usd

First Digital USD (FDUSD) $ 1.00 0.01%

Ethereum Classic (ETC) $ 19.56 1.13%

Stellar (XLM) $ 0.096351 0.27%

Stacks (STX) $ 1.91 1.82%

Immutable (IMX) $ 1.75 0.55%

Ethena USDe (USDE) $ 0.999399 0.11%

Aave (AAVE) $ 165.76 0.32%

OKB (OKB) $ 39.71 1.64%

Render (RENDER) $ 6.05 2.80%

Filecoin (FIL) $ 3.98 3.98%

crypto-com-chain

Cronos (CRO) $ 0.085253 0.45%

injective-protocol

Injective (INJ) $ 22.98 3.82%

Arbitrum (ARB) $ 0.611474 0.18%

hedera-hashgraph

Hedera (HBAR) $ 0.058619 2.71%

dogwifhat (WIF) $ 2.11 5.69%