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CHINA PRESS: The corporate tax cuts being pushed by U.S. President Donald Trump
may spur China to respond by reducing corporate administrative costs, for
example by reducing the premium companies pay for employees' social insurance
and public housing subsidies, a Jia Kang, a Chinese government-affiliated
scholar wrote in an op-end column for the official China Daily newspaper. China
may also promote public-private partnerships to attract private capital for
infrastructure and public projects to ease states' burdens. China is unlikely to
cut ts taxes as most of the burden on businesses are from the various fees, said
Jia, who is the director of the China Academy of New Supply-side Economics.
China's business tax rate is only 25%, with high-tech companies paying only 15%.
Income taxes in China only make up for 6% of the total tax revenue versus 47% in
the U.S., Jia wrote.