{"id":438587,"date":"2026-05-12T22:16:30","date_gmt":"2026-05-12T22:16:30","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/438587\/"},"modified":"2026-05-12T22:16:30","modified_gmt":"2026-05-12T22:16:30","slug":"china-must-raise-taxes-on-ultra-rich-to-fight-inequality-ex-adviser-says","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/438587\/","title":{"rendered":"China must raise taxes on ultra-rich to fight inequality, ex-adviser says"},"content":{"rendered":"

China should raise taxes on the income and properties of high-income groups<\/a>, a prominent economist has said, arguing the move would align government incentives with protecting property rights and reducing broader social inequality.Liu Shijin, a former deputy head at the Development Research Centre of the State Council, argued that China\u2019s fiscal system<\/a> should shift from its reliance on indirect taxes \u2013 levied on the circulation of goods and services \u2013 to direct taxes imposed on individual wealth.<\/p>\n

\u201cOnce properties become a stable tax source, local governments will be more serious and sincere in protecting your property,\u201d he said.<\/p>\n

Liu \u2013 who also served as a member of the Chinese central bank\u2019s monetary policy committee from 2018 to 2024 \u2013 was addressing concerns that raising taxes on high-income groups<\/a> might undermine property rights or destabilise investor expectations.<\/p>\n

But experience has shown that government conduct is closely related to its revenue sources, he added, suggesting that a state funded through wealth taxes would be incentivised to ensure the security of those assets.<\/p>\n

Liu\u2019s comments, made at a Beijing forum organised by the China Europe International Business School on Friday, came at a time when authorities are facing significant fiscal pressure.<\/p>\n","protected":false},"excerpt":{"rendered":"China should raise taxes on the income and properties of high-income groups, a prominent economist has said, arguing…\n","protected":false},"author":2,"featured_media":438588,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[5560,114,1657,205669,47529,205665,184,205666,205670,146954,205664,85,46,87304,40726,176795,205667,15975,205668],"class_list":["post-438587","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-beijing","tag-business","tag-china","tag-china-europe-international-business-school","tag-coronavirus-pandemic","tag-development-research-centre-of-the-state-council","tag-economy","tag-fiscal-pressure","tag-fiscal-revenue","tag-gini-coefficient","tag-high-income-groups","tag-il","tag-israel","tag-liu-shijin","tag-ministry-of-finance","tag-property-rights","tag-property-sector-slump","tag-state-council","tag-wealth-taxes"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/438587","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=438587"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/438587\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/438588"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=438587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=438587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=438587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}