China to strengthen tax reforms to attain 'common prosperity'

China to strengthen tax reforms to attain 'common prosperity'

People enter a long distance bus station during evening rush hour in Beijing as outbreaks of coronavirus disease (COVID-19) continue, in China, October 19, 2021. REUTERS/Thomas Peter

China will “strengthen adjustments” in tax collection to boost revenue and reform the country’s income distribution, but in a targeted and accurate way, as part of efforts to achieve long-term “common prosperity”, state-run Xinhua news agency said.