Institute for China Studies

Finance & Accounting

China Strengthens Payment Protection for Small and Medium-Sized Enterprises

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The Chinese government has introduced significant revisions to the Regulations on Guaranteeing Payment of Funds to Small and Medium-Sized Enterprises (SMEs), aimed at addressing long-standing challenges related to delayed payments. Effective June 1, 2025, these changes reflect China’s commitment to fostering a fairer business environment, improving cash flow for SMEs, and enhancing financial discipline among large enterprises and government entities.

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China’s Fiscal Strategy for 2025: Balancing Growth, Stability, and Innovation

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At the 2025 China Development Forum, Minister of Finance Lan Fo’an outlined China’s fiscal policy strategy, emphasizing a more proactive and coordinated approach to ensure economic stability and long-term growth. With a deficit rate of 4%, a fiscal deficit of 5.66 trillion yuan, and public budget expenditures reaching 29.7 trillion yuan, the government’s policy framework is designed to boost consumption, stimulate investment, support innovation, and manage financial risks.

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China’s Fiscal Policy in 2025: Balancing Growth, Stability, and Long-Term Development

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As China navigates a complex global economic environment, its 2025 fiscal policy has taken on a more proactive and strategic role in ensuring both short-term recovery and long-term growth. With rising uncertainties in global trade, investment, and market conditions, the latest Government Work Report introduces a more active fiscal policy, aimed at stimulating demand, supporting key industries, and strengthening public services.

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Understanding China’s New Administrative Measures for Individual Income Tax Settlement

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China’s State Administration of Taxation has introduced new Administrative Measures for the Final Settlement and Payment of Individual Income Tax on Comprehensive Income (hereafter referred to as the “Measures”). These Measures provide a structured and standardized approach to the final tax settlement process, reinforcing China’s tax administration reforms.

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