Less personal income tax

China’s new individual income tax law is to take effect on Jan. 1, 2019, while the country has already raised the threshold for personal income tax exemption from 3,500 yuan (about $509.05) to 5,000 yuan per month and enforced new tax brackets in October.

To further reduce people’s tax burdens, the revised individual income tax law will also include additional deductions for those who have certain expenditures including children's education, continuing education, treatment for serious diseases, housing loan interests, rent and elderly care.