A new tax structure introduces VAT and consumption taxes

The 14th Central Committee approved an institutional program to reform state firms, develop markets, change macroeconomic control and build social security. Markets would expand under party-state...

The decision prepared to replace fiscal contracting with assigned central, local and shared taxes from January 1994. It restored central revenue capacity, while local governments retained major...

The law supplied corporate forms for firms in the emerging market system. State ownership could be reorganized through companies, but corporate form alone did not guarantee worker participation or...

The reform divided taxes among central, local and shared categories and created separate tax administrations. It strengthened the center while leaving local governments with service...

A managed unified rate simplified foreign-exchange transactions and supported exports. It expanded firms’ access to foreign exchange but did not remove state management of currency or capital flows.

The policy bank was created to finance infrastructure and strategic development outside ordinary commercial lending. It gave the state a channel to direct long-term capital as commercial finance...

The policy bank supported export credit and overseas economic cooperation. It connected national industrial strategy with global markets while retaining state influence over the terms of engagement.

The policy shifted housing costs from work units toward a mix of public support, funds, credit and individual purchase. Access became more dependent on income and urban status, widening the stakes...

The policy bank supported agricultural procurement and rural development finance. Specialized public lending remained part of the reform era, although rural credit and services stayed unevenly...

The law defined the People’s Bank as central bank and supplied a legal basis for monetary policy. It strengthened national control over credit but did not make financial allocation politically...