China is set to cut RMB 2 trillion in taxes and social security fees due to the slower projected growth of the economy, said Chinese Premier Li Keqiang when delivering the annual work report during the National People’s Congress currently being held in Beijing, reported Caixin. The rate of value-added tax (VAT) for manufacturers will […]
Category: Brief
China’s new foreign investment law will be passed during the current NPC session, said the South China Morning Post. The new law will ensure equal treatment and intellectual property protection for overseas firms in China. The law will also apply to investors from Hong Kong, Macau and Taiwan. “In practice, we manage these investments [from […]
After a year of poor performance, China’s mainland stock markets rally is causing investors to rush to borrow funds. The Shanghai Composite Index is up 22.8% since the start of the year, said Caixin. Outstanding margin debt by the market close on Friday had reached 796.2 billion yuan ($103.93 billion), a 12% increase since February […]
The Chinese government has set the 2019 target GDP growth rate to 6.0%-6.5%, said the South China Morning Post. The lowered goal has been anticipated as Beijing has prioritized maintaining and stabilizing the growth of the economy. The government is currently facing headwinds in terms of China’s economy, including high deficit levels and financing bottlenecks […]
Chinese tourism in Japan has led Japanese tech companies to form agreements with Alibaba Group Holding Ltd. and Tencent Holdings Ltd. over US Apple Pay and Amazon Pay, to integrate electronic payments methods in Japanese economy.