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Analysis: Local Surcharge Reform – the Ccp Is “Robbing Money”
Summary by 大纪元 Epoch Times
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China's local governments have long relied on land transfer revenue. However, with the recent sharp downturn in the Chinese real estate market, the withering of this "cash cow" has plunged local governments into a severe fiscal crisis. The CCP recently promoted "reform" of local surtaxes, described by state media as "expanding local tax sources and solving local fiscal difficulties." Some analysts who have long followed the Chinese economy belie…
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