BUSINESS >> Economy

CAAM to not propose car tax cut: report

Given that the output and sale of vehicles in the Chinese market decreased 11.71 percent and 11.5 percent year-on-year, respectively, in the Chinese market in September, the China Association of Automobile Manufacturers (CAAM) said it will not propose the government cut purchase tax, media reports said on Tuesday.
Source: Global Times | 2018/10/16 19:38:40

Large-scale hydrogen energy utilization to be seen in Chinese market by 2050

Hydrogen energy will become a vital part of China's energy structure and it will be put into large-scale use by 2050, media reports said on Tuesday.
Source: Global Times | 2018/10/16 19:33:40

Local govts to curb hidden debt

Off-balance-sheet borrowings by Chinese local governments could be as high as 40 trillion yuan ($5.78 trillion) and amount to “a debt iceberg with titanic credit risks”, S&P Global Ratings said in a report on Tuesday.
Source: Reuters-Global Times | 2018/10/16 19:33:40

Risk of higher US tariffs on Japanese cars recedes

Higher US tariffs on Japanese cars are less likely now that the two nations have agreed to start new round of trade talks, economists said, but most think US trade friction with China and other economies will have a significant impact on Japan.
Source: Reuters | 2018/10/16 18:58:18

Cross-sea in sights

View of the construction site of the Quanzhou Bay Cross-sea Bridge in Quanzhou, East China's Fujian Province. The bridge, with a total length of 20.3 kilometers, is an integral part of the Fuzhou-Xiamen railway. With an estimated investment of 49.9 billion yuan ($7.2 billion), the railway is scheduled for completion in 2022. It will be the first cross-sea railway in China.
Source: VCG | 2018/10/16 18:18:40

Global steel body hikes its demand forecasts

The World Steel Association on Tuesday doubled its 2018 and 2019 forecasts for growth in global demand for the material used in everything from cars to construction, but said that trade tensions were clouding the outlook for the sector.
Source: Reuters | 2018/10/16 17:48:41

China, Netherlands call for free trade against protectionism

China and the Netherlands on Monday appealed for global efforts to promote free trade and safeguard multilateralism in order to tackle the common challenges confronting the world.
Source: Xinhua | 2018/10/16 14:47:52

China's CPI rises to seven-month high in September

China's consumer price index (CPI), a main gauge of inflation, rose by 2.5 percent year-on-year in September, the highest growth in seven months, data from the National Bureau of Statistics (NBS) showed on Tuesday.
Source: Global Times | 2018/10/16 14:38:39

China becomes largest recipient of FDI in H1

China becomes the largest recipient of foreign direct investment (FDI) in the first half of 2018, attracting an estimated 70 billion U.S. dollars in inflows, according to the latest investment trends monitor published on Monday by the United Nations Conference on Trade and Development (UNCTAD).
Source: Xinhua | 2018/10/16 13:36:53

China's CPI up 2.5 pct in September

China's consumer price index (CPI), a main gauge of inflation, rose 2.5 percent year-on-year in September, compared with 2.3 percent for August, official data showed Tuesday.
Source: Xinhua | 2018/10/16 13:25:16

China, Netherlands eye more open, pragmatic cooperation to safeguard multilateralism, free trade

China and the Netherlands on Monday pledged to jointly safeguard multilateralism and free trade by carrying out more open and pragmatic cooperation, against the backdrop of a complicated international situation with increasing uncertainties.
Source: Xinhua | 2018/10/16 9:04:36

Chinese smartphones lead Indian holiday sales despite reported restrictions

Chinese smartphone brands are the biggest winners in India's October holiday sale, beating foreign rivals and lifting the world's second-largest smartphone market to record sales, despite reported calls among some Indian officials to put restrictions on Chinese telecom firms' operations in the country due to security concerns.
Source: Global Times | 2018/10/15 23:03:40

SOEs face unfair 'bias, roadblocks' overseas

Investments in international markets made by China's State-owned enterprises (SOEs) are politically neutral and should not be subjected to discrimination, a senior official of the country's State asset watchdog said on Monday.
Source: Global Times | 2018/10/15 22:38:40

China allocates 10b yuan to support inclusive finance

China has allocated a special fund of 10 billion yuan ($1.4 billion) to develop inclusive finance this year, the Ministry of Finance (MOF) said Monday.
Source: Global Times - Xinhua | 2018/10/15 22:33:41

Hainan to enhance individual tax-free shopping quota: Xinhua

The government of South China's Hainan Province will strive to increase the annual tax-free shopping quota for travelers through efforts like opening more duty-free shops, a policy that an expert said will boost consumption in the local market and help the province become a global tourism and shopping center.
Source: Global Times | 2018/10/15 22:28:40

Beijing's innovation rising

The level of Beijing's mass entrepreneurship and innovation has been on the rise over recent years.
Source: Xinhua-Global Times | 2018/10/15 20:43:41

Huarong ex-chief to be prosecuted

Lai Xiaomin, former board chairman of China Huarong Asset Management Co. Ltd., has been expelled from the Communist Party of China (CPC) and dismissed from public office for multiple violations.
Source: Xinhua-Global Times | 2018/10/15 20:43:40

SOEs profits up 21.5% in first three quarters

China's centrally administered SOEs posted continued growth in profits in the first three quarters of the year, booking 1.35 trillion yuan ($195.2 billion) and up 21.5 percent in the period, the State asset watchdog said on Monday.
Source: Global Times | 2018/10/15 20:43:40