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.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19830307.2.138
Bibliographic details
Press, 7 March 1983, Page 25
Word Count
168Profit approved in China Press, 7 March 1983, Page 25
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.