China Pays for Factory’s Back Wages
Oct. 28 – According to a local government official in Guangdong province the government has used more than RMB24 million (US$3.5 million) of public funds to compensate 7,000 former employees of the toy maker Smart Union Group, reports Xinhua. Xu Hongfei, deputy head of Zhangmutou, said the town government has agreed to shoulder all the […]
China to Raise Tax Rebates on Selected Export Goods
Oct. 22 – China’s Ministry of Finance said tax rebates on selected export products will be raised beginning November 1; to ease pressure on businesses affected by slowing export demand. This is the second time in three months that China has increased tax rebates for the export industry. Last August 1, tax rebates were increased […]
Microsoft to Launch Stricter Anti-Piracy Campaign in China
Oct. 17 – Microsoft is set to launch an anti-piracy campaign in China starting October 20 to deal with pirated versions of Windows XP Professional and Office software, reports ChinaTechNews. The report is based on an internal email circulated by Microsoft China. The company said it will release two new updates that include genuine advantage […]
China’s Coal Reserves Hit a Record 29 Million Tons
Sept. 24 – China’s Ministry of Railways says the country’s coal reserves hit a record high of 29.33 million tons. In the past years, the average rate of reserves amounted to 23 million to 24 million tonnes. China consumed 319.8 billion kwh worth of power in August, a decrease of 1 percent from July’s 322.5 […]
China Reduces Import Taxes on Equipment Spare Parts
Sept. 16 – China has reduced import taxes on spare parts of large equipment in an effort to aid domestic manufacturing. Taxes paid by domestic manufacturers of large equipment for imports made after Jan. 1, 2008 will be refunded. These include key spare parts of large equipment such as ultra- and extra-high voltage transmission equipment […]
Kashgar to Become Central Asian Trading Hub, Again
Sept. 11 – Kashgar, the ancient Southern Silk Road trading town in China’s far West, is the subject of feasibility studies to extend the Chinese rail system south and west to link up with rail networks in Pakistan and Bishkek, the capital of Kyrgyzstan. Sited on the Western edge of the Taklimakan desert, and […]
China Bans Coal-to-Oil Projects
Sept. 11- China’s National Development and Reform Commission (NDRC) has released a notice on its website immediately banning converting coal to liquid fuels (CTL) projects except those by Shenhua, the country’s largest coal producer and a joint venture between Shenhua and South Africa’s Sasol. As far back as 2006, the agency had already issued a […]
China Issues New Regulation to Restrict Land Development
Sept. 10 – Beginning this month, a new regulation will require developers to reclaim land from the local arable land reserve or pay local land authorities for the amount of land they reclaim. It will also allow reclaimed land to be primarily reserved for farmers. The regulation calls for local governments to expand their land […]