China’s municipal governments are usually not only a public service provider but also the owner and operator of the region’s largest infrastructure projects, key industrial enterprises and local financial institutions. Photo: Xinhua

China to give local governments bigger share of tax revenues to continue crucial infrastructure investments

  • Local governments will receive 50 per cent of the country’s value-added tax revenue, as well as a share of income from sales taxes, according to China’s State Council
  • Shanghai was the only one of 31 mainland provincial-level regions not to report a fiscal deficit in the first half of 2019
Topic |   China economy

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China’s municipal governments are usually not only a public service provider but also the owner and operator of the region’s largest infrastructure projects, key industrial enterprises and local financial institutions. Photo: Xinhua
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