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Consumer tariff shakes market
China's decision to make sweeping changes to the current consumption tax regime, which was announced on Tuesday and will take effect starting April 1, is turning some public companies into investors' darlings, while making life harder for others.
China and Russia are poised to expand electricity trade
China and Russia are poised to expand electricity trade, a major step toward co-operation in the energy sector.
China can't pay more for iron ore
China's government won't interfere in price talks between its steel makers and foreign iron ore suppliers, a Cabinet minister said Friday, though the government insisted it can't afford another jump in already high prices. The comments by Ma Kai, the minister in charge of China's main planning agency, came after suppliers expressed alarm at suggestions the world's top steel producer might try to dictate prices following a 71.5 percent rise in iron ore costs over the past year.
Chinese industrial output rises 16.2% in Jan and Feb
Strong domestic buying and exports underpinned growth in China's industrial output to 16.2 percent in the first two months of 2006, over the same period a year earlier.
Tax policy adjustments loom for Chinese companies
China will introduce transitional measures before taking legal steps to bring parity to income taxes for Chinese and foreign-funded companies, said a senior legislator on Saturday.
Merger set to create steel giant
Two of China's 10 biggest steelmakers will be merged to create a behemoth with an annual output of 20 million tons - a move foreshadowing consolidation in the sector.
Chinses postal business to be split into sectors
Reform of the China's postal system, which has been in the pipeline for a couple of years, was finally approved on Wednesday by the State Council, China's cabinet.
China loosens control of insurance funds
Insurance institutions in China will soon be allowed to invest in a broader field, according to the country's insurance regulator.
China's Ministry of Commerce outlines measures on Greater Mekong Subregion cooperation
China's Ministry of Commerce (MOC) will take five concrete measures to promote trade and investment cooperation between the six member countries of the Greater Mekong Subregion (GMS) economic cooperation mechanism, a senior ministry official said in Gunming on Sunday.
Prudential Financial plans product launch
Bucking growth in a bearish market environment, Everbright Pramerica Fund Management Co Ltd, a joint venture between Everbright Securities and Prudential Financial, plans to launch a new equity fund product in China before October, according to the company's shareholders.
High-end steel tax returns
China has decided to reinstate a value-added tax on high-end steel products for export from July 1, ending preferential treatment enjoyed by steel makers since 1998.
Auditor: Central government misuses US$1.1b of fund
Almost 9.1 billion yuan (US$1.1 billion) was misused by 38 central government departments last financial year, China's Auditor-General Li Jinhua announced yesterday.
In his annual report to the Standing Committee of the National People's Congress, Li gave details of embezzlement and misuse of funds across departments and relating to hospitals, universities, water projects, highway construction and scientific research.
Big tariffs vs China a bad idea for US - Fed chief, Snow
Raising tariffs against China for its refusal to let the yuan rise would hurt the U.S., Federal Reserve Chairman Alan Greenspan and Treasury Secretary John Snow told lawmakers Thursday.
Fund to boost electronic information industry
A special fund for the research and development of integrate circuits is being established to help facilitate the growth of China's electronic information companies, vice minister Lou Qinjian of Information Industry said on June 17 at a press conference.
China's income gap widened in the first quarter of the year
China's income gap widened in the first quarter of the year, with 10 percent of the nation's richest people enjoying 45 percent of the country's wealth, state press reports said.
China halved income tax to boost market
China has temporarily halved income tax on dividends earned by individual investors, the Ministry of Finance announced yesterday, in a joint effort with other government departments to add life to the stock market.
Tax policies need to be fair
It is time to examine the tax system and lower the tax burden, says an article in the International Finance News, an excerpt follows:
New rules to help private businesses in China
Efforts are being stepped up to remove legal hurdles hindering the development of China's 3.4 million private enterprises. Officials with the Law Department of the All-China Federation of Industry and Commerce (ACFIC) said yesterday that some of the country's laws and regulations conflict with central government efforts to allow private enterprises achieve their potential.
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