China is continuing its strategies to maintain growth ahead of the West. It announced today that it has has scrapped the tax levied on the interest income of individual stock account balances.
The Government said the decision was aimed at maintaining a stable and healthy development of the capital market.
In another move to boost domestic demand the country has also scrapped the 5 percent individual income tax on savings interest earnings. The long march continues...Don't sell your resource stocks with a market in China.