Xi’s Vow to Regulate Wealth Spurs Calls for Taxing the Rich
- Property, inheritance taxes needed: government-linked experts
- Speculation of higher taxes has fueled market concerns
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Chinese President Xi Jinping’s pledge to regulate wealth has stirred speculation Beijing may impose property and inheritance taxes on the wealthy in pursuit of its “common prosperity” goal.
Several government-linked economists this week highlighted the possibility of major tax reform, responding to Xi’s comments in his Sunday speech to the Communist Party congress saying China should ensure a “well regulated” system of wealth accumulation.