China Economic ReviewInflation should fall to as low as 2% as consumer prices ease in the second half, the State Development and Reform Commission's Macro-Economic Research Institute said. It said the Consumer Price Index would show a rise of between 3.5% and 4% for the whole of 2004. The CPI climbed 4.4% in the first five months […]
After being ordered to make the disclosures by regulatory authorities, Shenzhen-listed Sichuan Topsoft Investment said it faced 23 lawsuits from mainland companies and banks for payment defaults totaling US$55.4 million. The banks include Bank of Communications, Industrial and Commercial Bank of China, China Construction Bank and Citic Industrial Bank. Added to 10 lawsuits it faced […]
A KPMG survey of 136 foreign consumer companies operating in the mainland found 70% of them are making money or breaking even. KPMG found 23% were making significant profits and 47% breaking even, if not making modest profits. The survey found 93% were optimistic about their five-year prospects; one third expected their businesses to grow […]
The State Administration of Taxation (SAT) announced that tax revenues increased by 26.2% in the first half of 2004. Total revenues were US$148.1 billion during the period, up US$32.4 billion from the same period last year. Value-added tax and business tax rose by 22.3%. Income tax from businesses and individuals rose 28.2%. Import tariffs increased […]
US national Security Advisor Condoleezza Rice spoke with former Chinese President Jiang Zemin about US weapon sales to Taiwan and issues surrounding North Korea's nuclear weapons program, according to an Associated Press report. Jiang told Rice Taiwan was the �most important and sensitive issue� in US-China relations and said that China would never tolerate Taiwanese […]