China ponders tax deduction for two-child family

Chinese Minister of Finance Xiao Jie answers questions on reform of fiscal and taxation system and financial work at a press conference for the fifth session of the 12th National People's Congress in Beijing, capital of China, March 7, 2017. (Xinhua/Li Xin)

China is pondering tax deduction for two-child family, Finance Minister Xiao Jie said Tuesday.

Xiao made the remarks at a press conference on the sidelines of the annual parliamentary session.[Special coverage]

China is planning reform to its personal income tax regime, Xiao said, allowing certain expenditures to be deducted when calculating taxable income.

Certain expenditures of two-child families, for example education payments, are among the considerations that may be deducted, Xiao said.

Chinese lawmakers adopted an amended family planning law in the end of 2015, a historic move allowing all couples to have two children.