Why China is Giving Companies a Tax Break

The video discusses China's major economic shift towards innovation and consumption-driven growth, highlighting a significant tax regime overhaul affecting key industries. The changes aim to treat all companies equally under the tax system, impacting local governments and financial services. The policy goals focus on rebalancing the economy towards consumers and services, with tax incentives for companies investing in higher quality production. The new finance minister, a tax expert, is expected to provide further details on these changes.

What are the expected outcomes of the National People's Congress regarding the new finance minister?

In what ways does the policy aim to rebalance the economy towards consumers and services?