When the Chinese government first adopted its open door policy in 1979, the taxation system for foreign investors and individuals in China evolved hand in hand with its economic reform. In order to keep pace with the changing economic and social environments, China promulgated a series of tax reforms in late 1993, the aim of which was to unify and simplify the tax system, to encourage fair competition between domestic and foreign investment enterprises, to strengthen tax administration and collection as well as to revamp the tax-sharing system between the central and local governments.
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