2020 China Tax Review

Daisy Duan and Wang Yan of King and Wood Mallesons look back at the key tax developments which took place in 2020, and consider the outlook for the coming year.

13 minute readJanuary 05, 2021 at 10:43 AM

Susan Mok

2020 witnessed a continuing economic slowdown around the globe, along with the unexpected outbreak of COVID-19. In June, the World Bank forecasted that the global economy would shrink by 5.2%, while the Organization for Economic Co-operation and Development (OECD) projected a decline of 4.2% in the 2020 economy.

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