Skip to content

Economic Downturn Will Impact 2015 Fiscal Revenue

China’s Finance Minister Lou Jiwei predicted that, in the next few months, the State will face considerable pressure to meet its 2015 revenue target. He made these remarks when speaking to the People’s Congress on June 28, 2015. "In the next several months, due to factors such as the pressure of the economic downturn, we expect to face considerable pressure to meet the central government’s fiscal revenue target."

Lou set out five priorities for the future. In regards to in-depth reforms of the taxation system, Lou stated that efforts will be made to study a reform proposal on the personal income tax and to support real estate tax legislation. 
Source: Ministry of Finance of China, June 29, 2015