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China To Improve Local Fiscal Resources

CHINA PRESS

Authorities will promote the steady decentralisation of consumption tax collection towards local governments, and optimize the sharing ratio of other taxes between central and local levels, said Lan Fo'an, chief of China's finance ministry. Speaking at a Third Plenary study session, Lan said authorities will reasonably expand the scope of support for special bonds, and increase the proportion of central government fiscal expenditure. (Source: Peoples Daily)

MNI Beijing Bureau | lewis.porylo@marketnews.com

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