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China cuts $46b of taxes to aid entrepreneurship and innovation [Copy link] 中文

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Post time 2016-1-25 09:53:33 |Display all floors
Graduates seek prospects at a job fair in Hangzhou, Zhejiang province. [Photo/China Daily]

BEIJING -- China cuts more than 300 billion yuan ($46.15 billion) of taxes in 2015 to boost mass entrepreneurship and innovation, according to official data.

Among this, tax exemptions and breaks on small enterprises reached 100 billion yuan and tax cuts designed to encourage high technology developmen ...

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Post time 2016-1-25 09:53:34 |Display all floors
Right way to go with supply-side policies. I agreed. The fourth industrial revolution (IR4.0) is now upon us. China should take full advantage of it and leapfrog into it with complete openness, opening to both domestic and foreign vendors, and opening to both commercial and social innovations. Embracing IR4.0 with complete openness is the way to go. Any restriction or selectivity will only come back to haunt us in the future. Past 30+ years of our development should give us plenty experience to draw upon. Sustainable development is the key. Fast development at any cost is not the way.

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