The right way of advancing fiscal system reform

The third plenary session of the 20th Central Committee of the Communist Party of China in July unveiled a series of measures to reform the country's fiscal and tax system, which has pointed the way toward a new round of reforms.

Historically, such reforms have achieved their expected goals and laid the foundation for establishing a modern fiscal system that is in line with Chinese-style modernization.

Standing at a new starting point, the country must break away from traditional thinking and examine the issue in a multidimensional national governance framework.