Other Briefings
SAT releases IIT figures
Over 1.5 million people filed a 2006 personal income tax return the State Administration of Taxation (SAT) announced yesterday. According to the agency’s figures, 1,628,706 individual income tax returns were filed by April 2, the deadline for filing the required self-declaration for high-income earners. This was the first year China required its high-income earners, those […]
Guangzhou to inspect over heated real estate market
The real estate market in Guangzhou is to face closer scrutiny following the launch Monday of a new campaign by municipal authorities. China Daily reported that eleven government departments will aim to expose firms’ tricks and misbehavior relating to property developments, marketing and sales activities. The departments involved include those responsible for the city’s development […]
Marine sector responsible for 10% of GDP in 2006
China’s marine sector contributed US$272 billion or 10.01 percent of the country’s gross domestic product (GDP) last year according to a report on the nation’s marine economy in 2006. The report, issued by the State Oceanic Administration (SOA), said that last year’s output value of marine industries – fishing, transport, oil and gas exploitation, tourism […]
Seven factors to stall FDI in 2007
Seven factors will stall China’s use of FDI in 2007 according to an article recently published by the Research Institute of the Ministry of Commerce. In the article, Shan Danyang, vice dean of the institute stated that China’s use of FDI in 2007 will decline, following the trend from last year (FDI use in 2006 […]
China’s oil industry inches closer to reform
April 3 – The Ministry of Commerce (MOC) recently issued two guidelines on how domestic and foreign companies can apply for wholesale crude and refined oil licences. According to The People’s Daily, these guidelines are set to bring about de facto market deregulation but analysts say that without reform of the oil-pricing mechanism, new players will […]
Shanghai Pudong airport sixth largest for cargo
Pudong International Airport (PVG) ranked as the sixth largest in the world for freight in 2006, handling some 2.16 million ton of cargo according to the Airports Council International. Pudong jumped two spots from last year on a rapid increase, 22.3 percent, of freight flights in 2006. In 2006, the airport handled 35,587 freight flights, […]
FDI encouraged in health sector
China’s Minister of Health, Gao Qiang, is encouraging foreign direct investment (FDI) in the health sector according to Xinhua. Foreign investors are being encouraged to open joint venture hospitals in which they can own as much as 70% of the private medical facility. “Foreign invested hospitals will be strictly supervised by the Chinese government but […]
Xinjiang to become China’s top oil producer
The National Development and Reform Commission (NDRC) announced that over the next three years, China’s two top energy giants China National Petroleum Corporation (CNPC) and Sinopec will spare no efforts to double output from the Xinjiang Uygur Autonomous Region to 44 million tons of oil, the People’s Daily reported.
