Dec. 2 - This is a regular series of relevant industry news from around China.

Air transport

Hainan Airlines Co Ltd.’s Grand China Air will launch flights between Yinchuan, Shijiazhuang and Hefei starting December 10.

The Taiwanese government has approved a fourth rate cut for fuel surcharges of 14.3 percent on short- and long-haul lines beginning December 10.

Mandarin Airlines and its parent company China Airlines Ltd. will open a new route between Kaohsiung, Taiwan and Seoul, South Korea, starting today.

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BEIJING, Nov. 25 - In an effort to encourage spending and boost the slumping housing market, the Beijing government cut contract taxes on home purchases yesterday.

tarting November 24, homebuyers in Beijing will have their contract tax halved if the price is below a certain level. According to China Daily, this would mean that if a person bought a 120-square-meter apartment in the Wangjing area at the existing average price of RMB13,000 per square meter, they will have to pay a contract tax at the rate of 1.5 percent, instead of 3 percent because the total cost would be RMB1.56 million, over the municipal government’s tax benefit threshold of RMB1.65 million.

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Nov. 24 - China’s leading economist said that the government has decided to increase the individual income tax threshold to spur domestic consumption.

Peking University professor Zhou Qiren told China Daily that the aggressive tax-reduction measures at corporate and personal levels aims to stimulate slowing domestic demand caused by the global economic crisis.

“As far as I know, the National People’s Congress has already reached the consensus to do that (increase the benchmark of individual income taxation),” said Zhou during a management forum held in Beijing.

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Nov. 24 - This is a regular series of relevant industry news from around China.

Solar power

Chinese monocrystalline solar cells maker JA Solar Holdings Co Ltd. and BP Alternative Energy Holdings Ltd., a subsidiary of British Petroleum, plan to co-develop and market part of their solar photovoltaic product portfolio in the next five years. Financial details of the agreement were not disclosed.

Air transport

The Civil Aviation Administration of China (CAAC) has allowed Sichuan Airlines Co., Shandong Airlines Co. and Shenzhen Airlines to each operate two flights a week across the Taiwan Strait; bringing the number of carriers serving this route to nine.

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Nov. 21 - A top Chinese official has warned that the country is facing critical unemployment problems brought about by the global credit crisis.

China’s social security minister, Yin Weimin, announced measures to control rising unemployment.These include providing information on job vacancies and offering additional training for workers going back home.

Government agencies will also to asked to encourage graduates to seek employment in the private sector or offer better packages for jobs located in underdeveloped regions in the country.

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Nov. 21 - China has approved new tax cuts and rebates for the textile industry as part of government measures to support slowing exports.

Export tax rebates on textile products will be increased to 17 percent. The 21st Century Business Herald reported that the proposal to increase tax rebates was approved during the State Council’s latest executive meeting.

According to Customs figures, during the months of January to October, the country’s textile and garment exports came in at US$153.71 billion, up 8.6 percent compared to last year’s figures.

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Nov. 19 - China’s Ministry of Human Resources and Social Security  has instructed local governments to maintain the minimum wage levels to aid companies in dealing with the global credit crisis.

“In the light of the current economic situation and real conditions in companies, minimum wage increases have been suspended for the near term,” said the ministry in a statement.

It went on to say that local governments should consider decreasing medical and accident insurance premiums to ease burdens on businesses and employees.

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Nov. 18 - This is a first in regular series of relevant industry news from around China.

Wind power
China Wind Systems Inc. posted a US$1.86 million net income for the third quarter of 2008, compared with US$8.12 million for the same period of 2007.

Solar power
The Chinese Academy of Sciences’ Institute of Electrical Engineering and the U.S. National Renewable Energy Laboratory have reached an agreement to jointly carry out research on photovoltaic (PV) power generation technologies. (more…)

Nov. 18 - Companies based in Shandong and Hubei provinces are now required to apply for approval from their local human resources and social security authorities before a layoff of 40 or more workers.

The regulation amends on the national labor contract law implemented last January. According to the national labor contract law, companies that want to lay off more than 20 employees must first apply for approval from labor unions and report their plan to labor authorities.

Wang Kexing, head of the unemployment and social insurance section of the Shandong human resources and social security department, told China Daily that provincial authorities have decided to launch the order in response to the global financial crisis, and in the wake of several cases of company bosses from Shandong, Guangdong and Zhejiang, fleeing their responsibilities and leaving workers stranded.

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Nov. 11 - Work began on Sunday on a high-speed rail link between Nanning and Guangzhou that will cut travel time between the two south China cities from almost 13 hours to three.

The 577.1 kilometer-long route, 61 percent of which will run through Guangxi, will allow trains to run at up to 200 kilometers per hour Xinhua reports. It is scheduled to be completed in an estimated 54 months and cost about RMB41 billion, according Chen Boshi, chief of Nanning Railways Administration.

The cost will be shared by the Ministry of Railways, Guangdong Province and Guangxi, said Chen.

The governor of Guangdong province, Huang Huahua, said he hoped the link would advance the goal of a Pan-Pearl River Delta and help connect southeast China to members of the Association of Southeast Asian Nations. (more…)