China

80 million Chinese people no longer pay income tax

A vendor holds Chinese Yuan notes at a market in Beijing, August 12, 2015. China shocked global markets on Tuesday by devaluing its currency after a run of poor economic data, a move it billed as a free-market reform but which some experts suspect could be the beginning of a longer-term slide in the exchange rate. REUTERS/Jason Lee  - GF20000020395

Chinese government increased the tax-free threshold for monthly personal income from $520 to $745. Image: REUTERS/Jason Lee - GF20000020395

Sean Fleming
Senior Writer, Formative Content
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