Tax Cut

Lower taxes across the board are the key to greater domestic consumption

Chinese President Xi Jinping (left) and Premier Li Keqiang. Photo: AFP

Last Thursday's rout on global stock markets, partly triggered by a weak reading for China's purchasing managers' index, has reflected investors' renewed concerns over the state of the mainland economy.

Monday, 27 May, 2013, 4:48am 2 comments

Companies want Beijing to ease tax burden

Premier Wen Jiabao. Photo: AFP

As the annual session of the National People's Congress and a government reshuffle draw nigh, millions of business executives and wealthy individuals are hoping the new cabinet equates tax reform with tax cuts.

1 Mar 2013 - 5:08am 1 comment

Beijing vows to cut taxes, limit local borrowing

The Ministry of Finance pledged to offer greater support to job-creating small companies through tax and fee cuts, to regulate local government borrowings and to maintain a reasonable size of central government investment in infrastructure next year.

8 May 2015 - 9:46am

China's pro-market reforms must not be on paper only

Illustration: Craig Stephens

The government's Central Economic Work Conference last weekend emphasised quality over quantity for China's future development. It is a laudable objective. But, unless the government is revamped, it will be hard to accomplish.

8 May 2015 - 9:46am

Congress, White House start 7-week quest to avoid fiscal cliff

US lawmakers return to Capitol Hill this week with a seven-week deadline to prevent the nation careering over a so-called 'fiscal cliff'. Photo: AP

Amid global stock-market jitters over Washington's political brinkmanship, United States lawmakers return to the capital this week with a seven-week deadline to prevent the nation careering over a so-called fiscal cliff into another recession.

14 Nov 2012 - 3:52am

Budget needs to go beyond sweeteners

In contrast to government practice in colonial days and the early years after the handover, the rule of confidentiality over the contents of the budget has changed markedly.

In the past few years the media has reported bits and pieces about the budget, citing unnamed sources in the know, a week or so before the budget is delivered in the Legislative Council.

22 Feb 2009 - 12:00am

Mainland's finances face hard year, says minister

The mainland's financial position will be difficult in the year ahead as revenues fall and spending surges, Minister of Finance Xie Xuren warned yesterday.

6 Jan 2009 - 12:00am

Beijing to spend its way out of crisis

Interest rate cuts, tax rebates and higher spending to spark growth

The central government is preparing to cut interest rates and boost infrastructure spending and tax rebates to exporters in an attempt to push up slowing mainland economic growth.

21 Oct 2008 - 12:00am

Save half of windfall, tax institute urges

Half the government's expected HK$100 billion budget windfall should be kept as savings and only about HK$20 billion returned to the community, the Taxation Institute of Hong Kong has said.

14 Feb 2008 - 12:00am


The global stocks sell-off has made the financial secretary more cautious ahead of next month's budget. Should he still go ahead with tax cuts or, as one academic suggests, save for a rainy day? Write to us.

24 Jan 2008 - 12:00am

Budget needed to offer more than handouts

What is likely to be Financial Secretary Henry Tang Ying-yen's final budget had a populist, election-year feel to it. Flush with a staggering, HK$55 billion surplus, 10 times the amount he projected a year ago, Mr Tang doled out goodies - some HK$20 billion worth, with the have-nots and the have-less doing better than the haves.

1 Mar 2007 - 12:00am

Tax-cut call with surplus $10b up on forecast

Henry Tang denies budget underestimated revenue

Pressure mounted on the financial secretary to increase welfare benefits and tax rebates after the government yesterday announced a $14 billion surplus for the last financial year - nearly $10 billion more than estimated in the budget nearly two months ago.

30 Apr 2006 - 12:00am

Welfare lift before tax cuts, say democrats

Seven pro-democracy lawmakers have joined forces to warn against tax cuts in next week's budget.

Instead, they yesterday urged Financial Secretary Henry Tang Ying-yen to first increase spending in welfare and other areas that suffered serious cutbacks during the economic downturn.

14 Feb 2006 - 12:00am

Who gets tax cuts?

What do you think of the idea of tax cuts for those earning below $1 million a year? Should other sectors of taxpayers be included in any cuts, which may happen if the economic rebound continues? Share your views: write to us

6 Sep 2005 - 12:00am

City comes close to balancing the books, says finance chief

Increased revenues lead to deficit of only $4.6b; tax cuts possible if economic recovery continues

The government almost achieved an unexpected balanced budget in the past financial year due to increased tax revenue and better-than-expected cost-cutting efforts.

28 Apr 2005 - 12:00am