Other Briefings
China to Establish RMB3 Billion Fund for SMEs
Nov. 25 – By the end of the year, the China Association of Small and Medium Enterprises (CASME) will establish a RMB3 billion venture investment fund to aid SMEs gather capital. CASME’s efforts also include the joint issue of an SME corporate bond with the northeastern Liaoning provincial government and starting up a bank with […]
China in Asia Regional Round Up: Nov. 24
Nov. 24 – Here is how China has been reported across the region over the past week. Shanghai to Invest in Punjab Free Trade Zone? In government and B2B meetings held in Shanghai this past week between Muhammad Shehbaz Sharif, the chief minister of Punjab, Pakistan’s most populated province, efforts were made for a Pakistan-China […]
Economist: China to Increase Individual Income Tax Threshhold
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 […]
Top Chinese Official Says Unemployment Situation Critical
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 […]
China Approves Tax Cuts, Rebates to Support Textile Industry
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 […]
Foreign Investors in China Advised to Conduct Scenario Planning
Nov. 20 – A China-based consulting firm has released a report advising foreign investors in the country to engage in scenario planning as a way of bracing itself for the possible economic situations that may arise in the near future. APCO Worldwide in their report called, A Gathering Storm? China’s Growth Prospects and the Need […]
China Urges Local Government to Maintain Minimum Wage Level
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 […]
Shandong, Hubei Rule No Layoffs Without Approval
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 […]
