In March,Zhang Yin,the richest Chinese mainlander in 2006 whose assets were esti- mated at 27 billion yuan ($3.4 billion) then, proposed to cut the individual income tax rate for the country’s wealthy.Her reason is that China’s high tax burden has spooked many rich people and tax cuts would encourage high- income professionals to stay in the country. China’s individual income tax rate is currently capped at 45 percent,compared with 17 percent in Hong Kong,30 percent in Singapore and Malaysia,and 35 percent in the United States. In March, Zhang Yin, the richest Chinese mainlander in 2006 whose assets were estimated-mated at 27 billion yuan ($ 3.4 billion) then, proposed to cut the individual income tax rate for the country’s wealthy. Her reason is that China’s high tax burden has spooked many rich people and tax cuts would encourage high- income professionals to stay in the country. China’s individual income tax rate is currently capped at 45 percent, compared with 17 percent in Hong Kong, 30 percent in Singapore and Malaysia, and 35 percent in the United States.