Professor Sheng Songcheng of the China-Europe International Business School proposed at the Tsinghua Wudaokou Chief Economists' Forum to lower the personal tax threshold to 8,000 yuan/month. According to his estimates, the tax rate will be reduced by about 30 billion yuan per year, which is only 0.17% of the total tax revenue in 2023. “It doesn't have much impact on finance, but this money is a real income for low-income people, and it is particularly beneficial to promote consumption.”

Professor Sheng Songcheng of the China-Europe International Business School proposed at the Tsinghua Wudaokou Chief Economists' Forum to lower the personal tax threshold to 8,000 yuan/month. According to his estimates, the tax rate will be reduced by about 30 billion yuan per year, which is only 0.17% of the total tax revenue in 2023. “It doesn't have much impact on finance, but this money is a real income for low-income people, and it is particularly beneficial to promote consumption.”