1. Zhejiang launches strict policy on protecting environment
According to the Environmental Protection Bureau of Zhejiang Province, enterprises found polluting the environment will not be able to receive loans from banks in the future. The Zhejiang provincial government has established a credit center for local enterprises. There are 3,658 items of environmential protection information in this center. This credit center is updated every month and is open to the public. [Zhejiang Market News, 2007.11.30]
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2. NDRC has arranged RMB400m fund in developing "red tourism" in China
According to the website of the National Development and Reform Commission (NDRC), in 2007, NDRC has arranged RMB400m fund in developing "red tourism" in China. A total of RMB761.48m investment from various sources has been invested in 80 "red tourism" projects in China. [www.sohu.com, 2007.11.30]
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3. China opens up silver import trade
China has liberalized its silver import trade, ending a requirement of central bank approval for importers, although analysts said inflows were unlikely to rise sharply in the near term due to high global prices. The People's Bank of China and China's Customs said in a brief statement on the bank's web site on Thursday (Nov. 29) that they had abolished a regulation limiting silver imports to companies approved by the bank. [www.sina.com.cn, 2007.11.30]
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4. Liuyang Municipal Local Taxation Bureau illegally raised money to build villas
Tan Jianbin and Chen Heqing are both cadres of Liuyang Municipal Local Taxation Bureau in Hunan province. They introduce a villa project being constructed. In 2005, the bureau bought 171 mu of hillside land. The land price was RMB160,000 per mu. They plan to build 87 villas for officials or cadres of this bureau. The cost of building each villa is about RMB400,000. They raised money from buyers. The reporter has found out that Liuyang Municipal People's Congress, Liuyang Municipal Price Bureau, Liuyang Municipal Tobacco Monopoly Bureau, Liuyang Municipal Electric Power Bureau and other municipal departments all have similar illegal villa projects. [www.sina.com.cn, 2007.11.30]
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5. Chengdu plans to be an ecological city
According to Chengdu Municipal Environmental Protection Bureau in Sichuan province, it has drafted a plan to make Chengdu become an ecological city. The plan is divided into three periods. The first period is from 2007 to 2010. The second is from 2011 to 2015. The third is from 2016 to 2020. Some certain areas are banned from developing projects. [www.sina.com.cn, 2007.11.30]
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6. First foreign-funded older adult living community is established in Jiangyin city, Jiangsu province
"Diamond Apartment" is the first foreign-funded older adults living community in Jiangyin city, Jiangsu province. It is currently under construction. It will open during the coming Spring Festival. It has received investment from Yu Juehui [pinyin], a Chinese merchant from the US. Yu invested $15m. Jiangyin municipal government invested RMB50m in this project. [www.nmgnews.com.cn, 2007.11.30]
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7. US claims victory in subsidies battle with China
This article is written by Alan Beattie with Financial Times. Washington and Beijing on Thursday (Nov. 29) resolved a dispute over government subsidies to Chinese industry, averting a long legal battle at the WTO. The US said the agreement represented a victory for its policy of vigorously pursuing trade disputes with China through a variety of legal avenues. In Feb. the US, joined by Mexico, launched a WTO case against a range of Chinese government programmes, including tax breaks that it said were, in effect, export subsidies. The case, which covered a variety of industries including steel, wood products and information technology, had the potential to affect hundreds of millions of dollars' worth of trade and tie up the countries in a lengthy legal dispute at the WTO. In Thursday (Nov. 29)'s deal, China agreed to eliminate illegal subsidies by Jan. 1. An official at the Chinese mission in Geneva denied that the agreement represented a total climbdown by Beijing. The official said that some of the subsidies had already been repealed and some were due for repeal under a new income tax law for enterprises. Other subsidies, such as a refund on value-added taxes for Chinese companies buying domestically produced equipment, were not prohibited under WTO rules, the official said. [www.hexun.com, 2007.11.30]
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8. European Chamber of Commerce and the American Chamber of Commerce hope Taiwan can forget politics and open direct flights
Opposition Kuomintang presidential candidate Ma Ying-jeou took his economic message to Taiwan's international business community yesterday (Nov. 29), promising to put the economy on the "front burner" if successful at the polls next year. Ma made his remarks to some 300 guests at a joint luncheon in Taipei hosted by four of the major international business groups: the European Chamber of Commerce Taipei (ECCT); the American Chamber of Commerce in Taipei (AmCham Taipei); the British Chamber of Commerce in Taipei (BCCT), and the Australian and New Zealand Chamber of Commerce in Taipei (ANZCham). The European Chamber of Commerce and the American Chamber of Commerce hope Taiwan can forget politics and open direct flights. "Ma gave a general roadmap of his economic priorities," said Richard Vuylsteke, executive director of AmCham. "Happily, much of this involves domestic investment and building the island's infrastructure to attract not only foreign but also Taiwanese investment." What made all the chambers happy, said Vuylsteke, was that there "really is recognition that for the domestic economy to prosper, the government needs to get economic relations with China right. That will strengthen the overall economy of Taiwan." [www.chinanews.com.cn, 2007.11.30]
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9. Foxconn says about 90% of patents in China are questionable patents
Nov. 29, a conference about intellectual property rights (IPRs) protection is held. Zhao Tianwu, director of the Intellectual Property Center under the Ministry of Information Industry (MII), delivers a speech at the conference. He says the development gap between leading domesitc companies and Samsung is still as far as 15 to 20 years. Fu Shaoming, a director from Foxconn, says about 90% of patents in China are questionable patents. Many are astonished by his statement. [it.com.cn, 2007.11.30]
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