China's government is said to be urged to reform consumption tax in order to boost local income, according to China's Securities Journal

China's government is said to be urged to reform consumption tax in order to boost local income, according to China's Securities Journal.

This suggests a push from within China for fiscal reforms aimed at increasing local income through adjustments to consumption tax. If implemented, such reforms could stimulate domestic spending and indicate a broader shift towards enhancing economic resilience, which might positively impact consumer-focused sectors and asset classes in the region.