With local governments in China struggling to replenish their treasuries while facing growing public service obligations, Beijing is setting its sights on securing more tax revenue as a major reform goal for 2026 and the four years beyond.
Compared with the previous five-year plan period’s emphasis on “tax and fee cuts”, the language in the draft of the full 15th five-year plan – released on Thursday – emphasised “maintaining a reasonable macro tax burden”.
The document also pledged to…