China Economic ReviewWu Xiaoling, vice governor of the People's Bank of China, said the Agricultural Bank of China, China's fourth-largest bank, would not receive a cash bailout this year as part of Beijing's bank sector reform, state media reported. ABC has been widely regarded as the weakest of China's big four state banks in terms of total […]
Despite Beijing's macro-control measures, China's second-quarter economic growth may not moderate compared to the newly revised 9.4% first quarter GDP gains, Li Deshui, director of the National Bureau of Statistics, told Reuters. The continued strength of the economy is making officials worried that the continued pace of growth could usher in a new round of […]
China's State Administration of Taxation said its agricultural tax revenue is expected to drop 93% year-on-year from US$2.8bn in 2004 to US$180m this year, state media reported, as Beijing begins to implement its 2004 landmark policy of ending agricultural taxes within five years, paving the way for a. unified tax system for rural and urban […]
After raising gasoline prices to US$36 per ton in March, the State Development and Reform Commission said in a notice that gasoline price cuts of US$18 per ton would take effect Tuesday, citing price fluctuations in the global oil market, state media reported. The SDRC said China Petro-Chemical Corp and the China National Petroleum Corp […]
Japan said China needs to practice better etiquette after visiting Chinese Vice Premier Wu Yi cut short her goodwill trip to Japan, standing up Prime Minister Junichiro Koizumi. Although Wu justified her abrupt departure saying she had urgent matters back home, the Chinese foreign ministry later said it was because Koizumi insisted on visiting the […]