Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image

Profit approved in China

NZPA Peking China plans to allow its businesses to retain some profit this year in a bid to encourage greater production and efficiency, according to Chinese press reports. The Government will start taxing a portion of company incomes rather than merely taking all their earnings, said the official Xinhua News Agency. It is a step towards giving

the business greater control of its own operation, and regulating it rather than trying to administer from the centre, said the Communist Party newspaper “People’s Daily.” Companies with large after-tax profits will be required to share some of them with the State, while low earners may have their taxes lowered. Under the present system,

called “eating from the big pot,” non-profitable companies can live off the earnings of profitable ones. The State makes up losses for poorly run companies, while not rewarding companies that do well. Retained profits may be used to improve factory equipment, improve working conditions and pay more to better workers, the newspaper said.

This article text was automatically generated and may include errors. View the full page to see article in its original form.
Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/CHP19830307.2.138

Bibliographic details

Press, 7 March 1983, Page 25

Word Count
168

Profit approved in China Press, 7 March 1983, Page 25

Profit approved in China Press, 7 March 1983, Page 25