CHINA STATE COUNCIL SIGNALS FISCAL, TAXATION REFORMS

BEIJING – China’s State Council, chaired by Premier Li Keqiang,has stepped up its rhetoric on fiscal and taxation reforms, with State media reporting that the Council announced it would "actively advance reforms in major sectors, trying to make substantial progress". Fiscal and taxation reform are seen as central to tangible Government reform, and a rebalancing of the economy away from State investment towards the private sector.