A prominent Chinese businessman has submitted a proposal to the ongoing People’s Political Consultative Conference, China’s top political advisory body, to raise the taxable threshold for personal income from the current US$281 (RMB2,000) to US$703 (RMB5,000), the China Securities Journal reported. The threshold has just been increased from RMB1,600 to RMB2,000 from March 1. “The RMB2,000 threshold covers almost everyone whose monthly ...