Other Briefings
China to Reconsider Taxes, Subsidies for Oil
Feb. 11 – China could raise the oil-price threshold for firms qualified for windfall taxes, from US$40 a barrel to US$60 along with granting more subsidies to aid the petroleum and chemical industry. In 2008, oil firm CNPC paid a staggering RMB85 billion in windfall taxes or an estimated 62.42 percent of its profit to […]
China in Asia: Feb. 10
Feb. 10 – Here is how China has been reported across the region over the past week. China Overtakes U.S. in January Car Sales Boon or bane? China has overtaken the United States in terms of car sales when the country snapped up 790,000 vehicles last January compared to the United State’s 656,976. (Communist Tax […]
January’s Inflation Rate Slows to 1 Percent
Feb. 10 – China’s Statistics Bureau announced that inflation rate for January slowed to 1 percent, the slowest pace in more than two years while producer prices dropped by 3.3 percent. Last year, China’s CPI for December increased by 1.2 percent. The slowing inflation rate gives policymakers more reason to implement interest-rate cuts to revive […]
Shandong Province to Build RMB150 Billion Railway Network
Feb. 9 – Shandong Province has announced a seven-year plan for a high-speed intra-province railway system of 14 railroads that will connect 17 cities, including Qingdao, Yantai, Jinan, Rizhao, Linyi and Weihai. The railway plan will cost a total 150 billion yuan with 70 percent of the amount to be shouldered by the Ministry of […]
FedEx Moves Asia-Pacific Hub to Guangzhou
Feb. 9 – U.S. logistics giant Federal Express will soon move its Asia-Pacific air trans-shipment hub from the Philippines to China’s Guangzhou City. The company’s Philippine base is located in Subic Bay, a former United States Navy base, 100 kilometers northwest of Manila. Its last shipment of goods, headed for Taiwan, left last Friday. FedEx’s […]
China’s Millionaires of the Past
Feb. 6 – Every Friday afternoon we feature the best weekly article from China Expat that bridges the gap between China business and culture. We hope you’ll find it interesting and enjoyable. China’s Old Time Millionaires Liu Yongxing of Shanghai’s East Hope Group is worth three billion. Wong Kwong Wu, owner of Gome Electrical Appliances, […]
China Industry Report: Feb. 6
Feb. 6 – This is a regular series of relevant industry news from around China. Wind power US-based Navajo Wind Energy acquired Chinese wind power company Guangzhou Jianianxiang. Through the acquisition, Navajo plans to boost the expansion of its wind power facilities in the world’s most populous country. Solar power Chinese National Development and Reform […]
Revision on Technology Import Procedures Announced
Feb. 6 – China’s Ministry of Commerce (MOC) has announced a new revision on the Administration of Technology Prohibited or Restricted from Import Procedures. Under the revised procedures, investigate privileges for import applications will be shifted from the MOC to the provincial and municipal commercial administration departments. The Technology Prohibited and Restricted from Import by […]
