Tax & Accounting

China to Raise Tax Rebates on Selected Export Goods

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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 […]

China’s Economy Expands by 9 Percent

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Oct. 20 – China’s economy expanded by 9.9 percent in the first three quarters of this year, reports the National Bureau of Statistics, marking the first time in five years that China’s quarterly GDP growth fell below 10 percent. Bloomberg and the New York Times report that the economy only expanded by 9 percent. The […]

China’s Trade Surplus Declines by 2.6 Percent

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Oct. 14 – According to China’s General Administration of Customs, trade surplus for the first nine months of the year declined by 2.6 percent to US$180.9 billion compared to last year’s figure. In September, import restrictions made to accommodate the Beijing Olympics and Paralympics boosted trade surplus by 23.1 percent to US$29.3 billion, a monthly […]

China Increases Refinancing Threshold

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Oct. 10 – China’s securities regulator said publicly-traded companies will now be required to pay dividends in cash instead of stock, three years before filing their refinancing applications. The regulation should improve long-term investment and aid market volatility. The China Securities Regulatory Commission (CSRC) said: “The listed firms, if applying for refinancing, must pay dividends […]

China Securities Regulatory Commission Suspends Chinese Share Offerings

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BEIJING, Oct. 10 – In an attempt to boost already battered stocks, China’s financial regulatory body, the China Securities Regulatory Commission, has ceased reviewing applications for Chinese initial public offerings. Beijing has been attempting to boost the market in a number of ways, and over the past few months has cut stamp duties, limited the […]

China to Purchase More U.S. Treasuries to Support Global Economy

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United States may have to pay price for Beijing intervention BEIJING, Oct. 9 – Banking sources in China have indicated to China Briefing News today that Beijing is likely to purchase still more U.S. debt to support the dollar and to help avert a U.S. and possible global downturn. China already holds approximately some US$1.27 […]

China’s Golden Week Holiday Boosts Consumer Spending

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Oct. 7 – According to the Chinese Ministry of Commerce, the October National Holiday boosted consumer spending and travel in the country to record levels. The weeklong holiday runs from September 29 to October 5 in commemoration of the anniversary of the founding of the People’s Republic of China in 1949. The government had lifted […]

China to Allow Securities Margin Trading

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Oct. 6 – The China Securities Regulatory Commission (CSRC) said it will soon allow firms to do low margin trading and short selling on a trial basis. In a statement made on its website on Sunday, the CSRC did not specify the date of commencement for the trading. It said, “With the agreement of the […]

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