China Economic ReviewA special bureau to lead and co-ordinate China’s campaign against terrorism will be established by the Ministry of Public Security, reported Wen Wei Po newspaper. The bureau will have a police unit under its command to prevent attacks and keep suspected terrorists out of the country. It will focus on monitoring border crossings, visa applications […]
A director of the State Administration of Taxation confirmed that China would scrap its favourable 15 per cent income tax rate for foreign firms, but he gave no timetable for the move. Jin Renqing said the tax rate should be the same for foreign and domestic firms. Most Chinese companies pay 33 per cent income […]
The State Development Planning Commission will encourage greater foreign investment in state firms over the next five years and more foreign listings by state firms. It will allow foreign investors to hold a ‘certain amount’ of shares in state firms, said China Daily, no percentages were given. Foreign investors would even be allowed to hold […]
Actual foreign direct investment in China in 2001 rose 14.9 per cent year-on-year to US$46.85bn, said the Ministry of Foreign Trade and Economic Co-operation. Contracted investment was up 10.4 per cent to US$69.19bn. Despite government efforts to draw funds away from coastal regions and into the interior, Shanghai attracted US$4.39bn in utilised foreign direct investment […]
A survey of investment by Taiwan companies in mainland China found that 47 per cent made profits in 1999, while 42 per cent suffered losses. The survey of 13,000 companies was conducted by the investment commission of Taiwan’s economics ministry. Two industrial parks are being built in Shanghai especially for Taiwan investors, said a vice-mayor […]