China's top legislative body will begin to review amendments to the country's personal income tax law on Monday in Beijing. [CFP]

2) China reviews personal income tax law amendments

China's top legislative body will begin to review amendments to the country's personal income tax law on Monday in Beijing.

The Standing Committee of the National People's Congress will discuss draft amendments to the individual income tax law from Monday to Thursday. The proposed amendments include lifting the threshold for levying individual income tax to 3,000 yuan (US$463) per month from the current 2,000 yuan minimum.

The NPC reviewed the tax law changes for the first time on April 22. On April 25, it began to solicit opinions from the public through its Web site. By the end of May, more than 230,000 opinions had been submitted.