China considering wide-ranging consumer tax overhaul: sources

Beijing

CHINA is considering a consumer tax overhaul, according to people familiar with the matter, the latest indication reforms are being accelerated to help speed the shift toward a more consumption-led economy.

The Finance Ministry has submitted the tax overhaul proposal to the State Council, said the people, who asked not to be identified because the discussions are private. The plan may change after it is debated by ministries that are part of the State Council, China's Cabinet, one person said.