BEIJING — Chinese President Xi Jinping said on Monday (March 6) private companies should be 'rich and loving' by shouldering a responsibility along with state-own firms to achieve prosperity for all. Private Chinese and foreign firms have been waiting for Beijing to flesh out details on how it intends to pursue 'common prosperity', Xi's signature initiative to narrow China's wealth...
Chinese President Xi Jinping attends the opening session of the Chinese People's Political Consultative Conference at the Great Hall of the People in Beijing, China March 4, 2023.BEIJING — Chinese President Xi Jinping said on Monday private companies should be "rich and loving" by shouldering a responsibility along with state-own firms to achieve prosperity for all.
Xi also said that private firms should share the fruits of their growth with employees more equitably, in what he called a "community of shared interests". "The problem with 'common prosperity' is it can lead to a very uncertain tax burden, unlike the official corporate tax rate as stated by law," Alfred Wu, associate professor at the Lee Kwan Yew School of Public Policy at the National University of Singapore, told Reuters.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
HSBC China says didn't receive instructions from Chinese regulators to restrict outbound remittanceSHANGHAI : HSBC China said on Tuesday it did not receive any instructions from Chinese regulators to restrict outbound remittance, and was not aware of any Chinese policy changes recently regarding cross-border capital outflow.HSBC China made the statement in response to Reuters' questions regarding billi
Read more »
President Halimah, PM Lee congratulate Vietnam’s newly elected presidentOn March 2, Mr Vo Van Thuong, 52, was elected as Vietnam’s new president. Read more at straitstimes.com.
Read more »
Sri Lanka president says China has agreed to restructure loansCOLOMBO: Sri Lanka's president said on Tuesday (Mar 7) that China had agreed to restructure its loans to the bankrupt island nation, clearing the final obstacle to a long-awaited International Monetary Fund (IMF) bailout. An unprecedented economic crisis has seen Sri Lanka's 22 million people suffer acute
Read more »
Sri Lanka president says China agrees to restructure loans, paving the way for IMF bailoutThe bailout has been held up by debt negotiations with China, Sri Lanka's largest bilateral creditor. Read more at straitstimes.com.
Read more »
Xi Jinping slams US-led 'containment, encirclement and suppression' of ChinaBEIJING: President Xi Jinping has condemned what he branded an American-led 'suppression of China', as he urged the country's private sector to boost innovation and become mor
Read more »
Pollution returns to northern China as industrial activities riseBEIJING : Thirteen northern Chinese cities surrounding the capital Beijing have issued pollution alerts over the last few days, raising concerns that an industrial recovery in the region is increasing smog levels. All 13 cities, including Tianjin and Tangshan, China's biggest steelmaking centre, had issue
Read more »