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China not planning to raise income tax

China not planning to raise income tax

 Chinese officials have refuted the speculation that the government was planning to raise personal income tax on earnings of more than USD 18,400 a year, after netizens responded "furiously" to reports that plans were afoot to increase the tax burden on the emerging middle class.

China GDP slows down to 14-yr low but crosses official target

China's GDP expanded 7.7 percent from a year ago, the slowest pace of growth since 1999, official figures here said on Monday.

China cabinet report sees 2013 economic growth at 7.6%: Report

The forecast is in line with analysts' predictions of around 7.6-7.7 percent in 2013, but still puts China's growth near the weakest pace since the Asian 1997-98 financial crisis.

Top CPC body to finalise China`s new Cabinet next week

The ruling Communist Party of China, headed by its new leader Xi Jinping, would meet next week to finalise a new Cabinet and administrative reforms.