Small firms and tech companies in China can expect further tax cuts worth up to RMB 60 billion ($9.5 billion), state media reported on Wednesday. The taxable income for small firms will rise to RMB 1 million, twice the existing level, reports Reuters. Firms engaging in research and development will benefit from tax deductions on […]
Category: Brief
Leading Chinese tech firms have been accused of discrimination with respect to hiring women after a series of sexist job ads reached the public attention, Bloomberg reports. Alibaba, Baidu and Tencent are among the firms identified in a report by New York-based Human Rights Watch as using female employees to lure men to apply for […]
U.S. President Donald Trump said that he believes that the United States and China have a “very good chance” of reaching a trade agreement, Reuters reports from the White House, and that trade representatives from the two countries will be meeting in the coming days. Follow a press conference with French President Emmanuel Macron, Trump told reporters […]
China’s truck-hailing company Manbang Group has received $1.9 billion of financial backing from investors including tech powerhouses SoftBank Group and Google’s parent company Alphabet, sources told the Wall Street Journal. Manbang’s app allows shipment companies find truck drivers to transport their cargo, much as Uber connects passengers with nearby cabs. It has already garnered the […]
Quotas on Chinese investments abroad will more than double with the rollout of two pilot programs aimed at relaxing capital controls and opening China’s financial markets, the state forex regulator said yesterday. The quota defined by the Qualified Domestic Limited Partnership (QDLP) will rise from $2 billion to $5 billion, which as Caixin Global notes, […]