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Possible Progress in China

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DarkWaters

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http://www.washingtonpost.com/wp-dyn/conte...7031600512.html

I would be interested in hearing what some of the legal scholars on this forum have to say about this and to what extent this legislation is actual progress.

Although this initially sounds as if it could be decent progress in spirit, it still seems unclear if this is any real progress because of this description:

The legislation stopped short of disavowing the principle that all land belongs to the state, a fundamental part of the Communist system put in place after Mao Zedong's rise to power in 1949.

Edit: Here is another article on the bill: http://www.washingtonpost.com/wp-dyn/conte...7031502535.html

This law has evidently raised taxes on foreign (non-Chinese) companies:

The tax law unifies the tax rate for foreign-financed companies with those of Chinese enterprises at 25 percent, ending an era that saw China create special economic and technology zones with low taxes to attract nearly US$700 billion in foreign investment that has fueled this nation's rise to become the world's fourth-largest economy.

Under the old system, Chinese companies paid 33 percent of profits in tax, while new foreign investors were exempt from taxes for two years, get a 50 percent cut for three more and after that could receive breaks that kept rates as low as 10 percent.

Edited by DarkWaters
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I'm no legal expert but from the excerpts I have read and comments from analysts the law has way too much wiggle room (a proper law protecting private property does not need 247 articles and 40 pages), but it is undeniable that it is progress in the right direction.

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