China Economic ReviewChina’s long awaited gold exchange is due to open this month in Shanghai after a major obstacle to its operation was removed, reported Shanghai Daily. "The government has verbally agreed not to apply a 17 per cent value-added tax to our dealers," said Wang Zhe, head of the Shanghai Gold Exchange. A 17 per cent […]
China has suspended sugar imports in order to support domestic prices and help farmers, a China Sugar Association official told Reuters in May. The official said that the suspension would last until the domestic market position had improved. As part of its commitment to the WTO, China has promised to import 1.764m tonnes of sugar […]
In response to a decision taken in March by the US to impose import duties on steel, China is itself imposing temporary tariffs of 7-26 per cent on nine steel product imports. The move followed pressure from domestic steel companies, which claim substantial losses resulting from the US action. The tariffs will be effective for […]
Yokohama Rubber Co is to establish three more passenger- car tire factories in China, reported Nihon Keizai Shimbun. The Japanese company is currently building a plant in Hangzhou, Zhejiang province, which is due to start operations in May next year. Under the new plan, the company will build another three tyre plants in Tianjin, Guangzhou […]
China’s industrial output rose by 12.1 per cent year-on-year in April, according to the National Bureau of Statistics. The rise over the first four months of the year was 11.2 per cent year-on-year. Output of state firms was 10.9 per cent higher in April than in the same month of 2001, while foreign-invested firms’ output […]