PROFILE: In 1991, Long Yongtu was one of a handful of trade ministry officials capable of "arguing in English" - enough to make him China'a top negotiator for WTO membership.
The Beijing government has piloted a project to conduct a preliminary evaluation of government spending projects. Beijing earned over 230 billion yuan in fiscal revenue in 2010 and plans to spend 113.5 billion yuan this year.
In 2011, China will invest more into five sectors: education, rural and urban basic health insurance, healthcare institutions, social security, policy-based housing and water conservation facilities.
The government will reduce the tax burdens of individuals and companies. The reform will not raise the tax floor as previously expected, but will reduce number of income tax levels to six or seven.
The central government has extended the original October 31 deadline for local governments to report the results of their investigations into local financing platforms.
China's taxation system may witness a great change in the following five years. Value-added tax, China's largest tax, is likely to be expanded and replace the sales tax.
The Beijing Municipal Federation of Trade Unions is working to reform the city's trade unions including advocating direct election of and economic independence for union officials.
Is China's Ministry of Housing and Urban-Rural Development (MHURD) keeping a secret list of property developers that are hoarding housing for speculative purposes?
