"I believe that the current (personal income) tax threshold of 3,500 yuan ($565) should be further raised … it should be raised at least to the level of 6,000 to 7,000 yuan. Furthermore, the tax threshold should be adjusted every two years in accordance with the inflation level."

Li Shufu, member of the National Committee of the Chinese People's Political Consultative Conference and chairman of Zhejiang Geely Holding Group, as quoted by the China News Service on Tuesday.