BEIJING -- Having all but secured a third term as the Communist Party leader, Chinese President Xi Jinping is set to tackle major tax reforms aimed at realizing his vision of "common prosperity."
In addition to introducing a property tax, the Xi leadership will step up taxation on capital gains and luxury items to redistribute wealth to a wider population. Ahead of the mass retirement of Chinese baby boomers set to start in 2022, pension reform is also seen as imperative.
