China raises taxes on some sectors to boost finances: a one-off fix or tough times ahead?

Beijing has recently targeted tax incentives in telecoms and other select industries after fiscal revenue dropped sharply in late 2025, fuelling market speculation of similar, larger-scale moves and triggering volatility. The South China Morning Post examines the latest developments and outlines how economists view the changes. What has the Chinese government announced? Beijing has moved to boost government finances by tightening tax incentives and raising preferential rates across several...