Ulrich Sees China Tax Reform Amid Shift to Consumption Focus

China may implement “dramatic” tax reforms and introduce more easing measures to help boost the economy as it shifts its focus to domestic demand growth from exports, Jing Ulrich, managing director and chairman of global markets for China at JPMorgan Chase & Co., said.

Interest rates may be cut if growth in the world’s second-largest economy remains sluggish, Ulrich said. The People’s Bank of China may cut reserve ratio levels for major banks on three more occasions this year after reductions in December and February, Ulrich said. China will reform its tax system this year, cutting consumption and service taxes to stimulate consumer spending, she said.