China’s Hunan puts non-tax revenue in crosshairs, cracking down on sketchy fines

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Hunan has become the latest Chinese province to tighten controls on non-tax revenue growth through a revision of local regulation, as Beijing intensifies efforts to revive market sentiment and private investor confidence.The regulation changes, set to take effect on November 1, explicitly mandate that local-level governments fully remit proceeds from the disposal of confiscated goods – along with any interest they generate – to the state treasury, in a sign of how such non-tax revenue is now...