Other Briefings
Chinese Banks to be Allowed to Finance M&As
Dec. 11 – The China Banking Regulatory Commission has revised regulations to allow qualifying banks to finance mergers and acquisitions for all domestic companies for the first time in China. The regulation aims to foster economic growth and fund restructuring plans for industries affected by the global credit crisis.
China Announces 2009 Holiday Schedule
Dec. 11 – The State Council has announced the holiday schedule for 2009. According to Shanghai Daily, National Day falling on October 1, and the Mid-Autumn Festival, starting October 3 will be combined into China’s first eight-day holiday since the founding of the People’s Republic in 1949. Employees will be required to go to work […]
China in Asia Regional Round Up: Dec. 10
Dec. 10 – Here is how China has been reported across the region over the past week. Asian Exports Fall to Seven Year Low – And What This Means for Western Economies Shrinking western demand, rising inflation and a scarcity of trade finance have resulted in a significant slump in Asian exports, putting a dampener […]
China’s FDI for November Drops by 36.5 Percent
Dec. 10 – Foreign direct investment in China dropped by 36.5 percent in November compared to last year’s figures. The Ministry of Commerce said FDI was at US$5.3 billion, making it the lowest figure in the last 14 months. China’s central bank has already delayed gains by the yuan against the dollar since mid-July. Last […]
Shanghai to Scrap Land-Use Fee by 2009
SHANGHAI, Dec. 10 – The Shanghai government has announced that it would scrap land-use fee for companies beginning next year. The land-use fee is levied on companies which have gained rights to use state-owned land through bidding, auctioning or agreement.The policy was first introduced in Shanghai in 2001 at RMB1 yuan per square meter annually.
China Likely to Initiate More Tax Cuts
Dec. 9 – Policymakers convening in Beijing for the annual Central Economic Work Conference may initiate more business tax cuts to boost the slowing economy, reports China Daily. There are reports from a source close to policymakers saying that business tax for companies may be lowered by 1 percentage point from the current 5 percent. […]
China Industry Report: Dec. 9
Dec. 9 – This is a regular series of relevant industry news from around China. Air transport The Civil Aviation Administration of China (CAAC) reported a 4 percent increase in air traffic after five months of decline. The CAAC also reported that for the first three quarters of 2008, Shenzhen Airlines Ltd. suffered a loss […]
Maggie’s Bar Reopens in Beijing
BEIJING, Dec. 8 – Maggie’s, the popular drinking spot for locals and expatriates in the nation’s capital, opened its doors again tonight for the first time in over six months. Before being shuttered during Beijing’s drive to beautify itself ahead of the Olympic Games, Maggie’s was a stalwart of the the city’s club scene. Opened […]
