Photographer: Qilai Shen/Bloomberg

China Plans Income-Tax Overhaul to Bolster Consumption

Updated on
  • Just raising the taxable base threshold is unfair: Lou Jiwei
  • Wages rising faster than productivity are 'unsustainable'

China plans to revamp its income-tax system to include deductions such as mortgage interest, education expenses and the cost of raising children, said Finance Minister Lou Jiwei, as the nation seeks to maintain consumption as a major growth driver.

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