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Xiao Geng<br />
from School of Public Policy and Management, Tsinghua University<br />
P<br />
rofessor Xiao Geng believed<br />
personal income tax<br />
threshold does not matter<br />
much, but it is important<br />
to lower the rates. Doing<br />
this can attract many industries<br />
to relocate in China Mainland from<br />
overseas, such as finance and other<br />
high-end service industries. In this<br />
way, the revenue would increase<br />
rather than decline. As to those new<br />
taxes like resources tax, environment<br />
tax and house tax, he said the government<br />
should be prudent. For example,<br />
the property and value of real<br />
estate in China is very complicated<br />
to figure out, so it must be cautious<br />
to set building tax rate. “These new<br />
taxes should have a low rate, if they<br />
are imposed,” he said.<br />
Zhang Xiaojing<br />
director of Department of Macroeconomics, Institute of<br />
Economics, Chinese Academy of Social Sciences<br />
Z<br />
hang Xiaojing said, the number<br />
of favorable factors to stimulate<br />
consumption increases<br />
in recent years. For example,<br />
farmers’ income, standards<br />
for minimum urban living allowance,<br />
minimum wage and personal income<br />
tax threshold are on the rise, the govern-<br />
ments’ input in people’s livelihood is<br />
increase, and the process of urbanization<br />
is speeding up. Since most people source<br />
their incomes from work, next phase of<br />
reform on income distribution system<br />
will take wage reform as the core and lift<br />
the proportion of labor income in initial<br />
distribution of income.<br />
Yi Xianrong<br />
Researcher Yi Xianrong from Institute of Finance and Banking<br />
Y<br />
i Xianrong said, the key of reasonable<br />
property market regulation<br />
is to clean speculation.<br />
There are numerous policies,<br />
but they are not put into practice as expected.<br />
About 70% to 80% of property<br />
market regulation policies are not carried<br />
out as expected. “House tax which is hot<br />
recently can do little help, and the key<br />
to regulate property market is to control<br />
speculative purchases. 10 million sets<br />
of welfare housing to be constructed in<br />
2011 will ease the pressure on people<br />
with housing difficulties, having no<br />
major impacts on commodity property<br />
market.<br />
Zhuang Jian<br />
Asenior economist from Asian Development<br />
Bank China Office<br />
Zhuang Jian pointed out that,<br />
most of the governmental investments<br />
were used in infrastructure<br />
construction. In the<br />
12th five-year period, central<br />
government will put more attention to<br />
people’s livelihood, to boost domestic<br />
demand and improve people’ lives; investments<br />
in emerging strategic industries<br />
will increase; meanwhile, the government<br />
also should spare investment<br />
to small and medium-sized and private<br />
enterprises, to develop various driving<br />
forces to boost economic development.<br />
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