Biz leaders offer thoughts on China's future at two sessions

Raising tax exemption threshold to 10,000 yuan per month

Dong Mingzhu, a deputy to the National People's Congress and chairwoman of Gree Electric Appliances, suggested that the tax exemption threshold be raised from 5,000 ($694.58) yuan per month to 10,000 yuan per month, and to further optimize the tiers and spacing of the progressive tax rates, so as to prompt tax cuts tilted toward the middle- and lower-income groups.

Dong said that listed company executives should not be allowed to reduce their stock holdings during their tenure. She emphasized a strict prohibition on stock speculation, advocating that executives can only buy shares, which shows their trust and confidence in the company.

Dong also suggested amending e-commerce laws to enforce penalties for illegal activities and create a deterrent effect. She advocated holding live-streaming e-commerce platforms accountable and imposing restrictions on operators within these platforms to promote standardized development.