The Communist Party of China(CPC) Central Committee published a decision stating its commitment to maintaining the stability of the RMB, deepening financial reforms and tightening supervision over the financial market.
According to the report China will work towards establishing a mechanism under which the interest rate is decided according to market forces and the central bank influences the rate only through its monetary
policies.
The document also announced that steps will be taken to reform
the tax system to make it simpler and stricter with lower rates and a broader collection
base.
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