About 730 million Chinese farmers are expected to be exempt from agricultural taxes totaling RMB20bn (US$2.41bn) this year, according to the Ministry of Agriculture. The tax exemption, which applies to 26 of China's 31 provinces and municipalities, marks the first implementation of the agricultural support policies announced by Beijing earlier this year. China has pledged […]
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With China hoping to develop its software industry on the coattails of its successful neighbor, Chinese software industry representatives promised cooperation with their Indian counterparts at the first China-India Software Industry Summit last weekend. According to US market researcher Gartner Group, global spending on offshore IT outsourcing will reach US$50bn in 2007. India is the […]
In a campaign to crack down on the growing number of underground banks and money laundering operations, the police arrested a South Korean in connection with the first-ever, foreign-run underground foreign exchange den, state media reported. The police allege that Kim Cheon-Jae, 45, ran an underground bank in Qingdao in the Shandong Province that illegally […]
General Electric Co., expects its sales in China to reach USD$5bn this year, a 32% increase over last year. The world's second biggest company says it is poised to experience double-digit growth in all its businesses in China, where it sells rail and power equipment, airline engines, consumer finance and other goods and services. China […]
Although China's first exchange-traded fund ended down on its debut this week mostly due to technical adjustments by institutional investors, dealers say the ETF has good long-term prospects. Launched by China Asset Management Co., with help from US-based State Street Corp., the Shanghai 50 ETF is an index-tracking mutual fund traded on the stock exchange. […]