|
|
Enterprise Income Tax Law Analysis by Deloitte
|
| The new Enterprise Income Tax Law, enacted on March 16,
2007, will take effect on January 1, 2008. |
| 17th December, 2007 |
|
|
|
Foreign banks get five-year grace period
|
| Chinese banking regulators on November 15 amended the
nation's banking regulations to give foreign lenders a
five-year grace period before they are required to reduce
their RMB loan-to-deposit ratio to less than 75% |
| 16th November, 2007 |
|
|
|
Foreign firms to receive favorable tax rate under reforms
|
| China's tax reforms are progressing in a steady and
cautious manner. A host of taxes, including corporate
income tax, value-added tax (VAT), resources tax and land
use taxes, will be covered by the reforms. |
| 26th September, 2007 |
|
|
|
China ends monopoly on coalbed methane
|
| China has expanded the opportunities for foreign firms to
develop coal bed methane gas with local partners by ending
China United Coalbed Methane's (CUCBM) exclusive rights to
foreign cooperative deals, the government said on Monday
(Sept. 24). |
| 26th September, 2007 |
|
|
|
Tianjin gives RMB20m to airline companies to launch new routes
|
| In the first half of 2007, the Tianjin municipal
government gave RMB22.17m to ten airline companies to
launch new routes. |
| 26th September, 2007 |
|
|
|
New national land-planning program to set up development-free zones
|
| Extra funding will be provided to encourage people who
live in places where development is forbidden to migrate
to urban areas, in a bid to preserve China's countryside. |
| 26th September, 2007 |
|
|
|
Micro-USB is the standard for new mobile handsets
|
| The Open Mobile Terminal Platform (OMTP) has agreed that
micro-USB should be the standard for mobile phone
connections. |
| 26th September, 2007 |
|
|
|
China to ban prime time talent show broadcasts
|
| China will ban prime time talent show broadcasts from Oct.
1, according to the State Administration of Radio, Film
and Television (SARFT). SARFT has issued detailed
regulations to strengthen the supervision of China's
growing talent show industry. |
| 25th September, 2007 |
|
|
|
China to publish a new catalogue of goods to be imported
|
| On Sept. 23, the Ministry of Commerce held a working
conference on imports in Wuhan, Hubei province. China will
publish a new catalogue of the technology and products
that should be imported. |
| 25th September, 2007 |
|
|
|
No timetable for RMB revaluation: Central bank chief
|
| The central bank has no timetable for a fully convertible
renminbi, People's Bank of China governor Zhou Xiaochuan
said on Friday, Sept. 21. |
| 25th September, 2007 |
|
|
|
China to introduce new "green" tax incentives
|
| China is set to announce new tax incentives to boost
energy saving and renewable energy, a government official
said on Sunday, Sept. 23. He added that it is drawing up
details of resource tax reforms. |
| 25th September, 2007 |
|
|
|
Currency flexibility will not restrain China's growth: McCormick
|
| The U.S. will keep trying to override calls for
protectionism and promote better mutual understanding with
China, a senior official of the U.S. Department of
Treasury said in Beijing on Thursday, Sept. 20. |
| 24th September, 2007 |
|
|
|
China to limit expansion of corn processing industries
|
| China is tightening controls on the use of corn for
industrial purposes, including biofuel processing, the
government said Thursday, September 20. |
| 24th September, 2007 |
|
|
|
Chongqing will list 20 SOEs on stock market before 2010
|
| On Sept. 20, Li Xingqiang, an official from the State-
owned Assets Supervision and Administration Commission of
Chongqing municipal government, said in an interview that
Chongqing will list 20 state-owned enterprises (SOEs) on
the stock market before 2010. |
| 24th September, 2007 |
|
|
|
MII orders phone survey centers to stop sending group messages
|
| On Sept. 20, the Ministry of Information Industry (MII)
issued a circular about phone-survey service centers. It
orders phone survey centers to stop sending group text
messages. |
| 24th September, 2007 |
|
|
|
NDRC issues new regulation on property management prices
|
| The National Development and Reform Commission (NDRC) and
the Ministry of Construction have jointly issued a
regulation on the price of property management services. |
| 24th September, 2007 |
|
|
|
Shanghai buses to switch to clean GTL fuel
|
| On Sept. 19, Shell China and Shanghai Clean Energy
Research and Industry Promotion Center jointly announced
that their six-month trial program for buses in Shanghai
has finished. |
| 21st September, 2007 |
|
|
|
Shandong to cut SOEs from 43 to 25
|
| In the next three years, the number of state-owned
enterprises managed by the Shandong provincial government
will be cut from 43 to 25. |
| 21st September, 2007 |
|
|
|
HiSense launches China's first LCD Module production line
|
| On Sept. 19, HiSense launched China's first LCD Module
production line in Qingdao, Shandong province. HiSense
plans to invest RMB700m to build five LCD Module
production lines from 2007 to 2009. |
| 21st September, 2007 |
|
|
|
China now world's third-largest trader: NBS
|
| In the past four years, China has become the world's third-
largest trader, 13th-biggest foreign investor and a major
target for overseas funds. |
| 21st September, 2007 |
|
|
|
SFDA publishes interim method for managing recalled drugs
|
| On Sept. 19, the State Food and Drug Administration
published the interim method for managing recalled drugs
on its official website and invited public opinions. |
| 21st September, 2007 |
|
|
|
Polluters face stiff penalties under draft water protection law
|
| On September 16, Zhou Shengxian, director of the
Environmental Protection Administration, delivered a
speech at a forum. |
| 18th September, 2007 |
|
|
|
Ethanol industry development plan to be issued by year-end 2007
|
| China may scrap efforts to produce petroleum by liquefying
coal, an official with the country's top economic planning
agency has said. |
| 18th September, 2007 |
|
|
|
New brokerage to offer money-market products
|
| The China Foreign Exchange Trade System (CFETS) has won
regulatory approval to form a money-markets brokerage with
London's ICAP plc, officials told a conference on
September 13. |
| 17th September, 2007 |
|
|
|
China's industrial output up 17.5% in August
|
| China's industrial output rose 17.5% in August, the
National Bureau of Statistics (NBS) said on September 13. |
| 17th September, 2007 |
|
|
|
State Council to collect dividends from SOEs next year
|
| China's State Council has announced that it will start
collecting dividends from central government-controlled
companies next year. |
| 17th September, 2007 |
|
|
|
China establishes corruption prevention bureau
|
| China announced in Beijing on September 13 the
establishment of the National Bureau of Corruption
Prevention (NBCP). |
| 17th September, 2007 |
|
|
|
China aims for 12m tons of strategic oil reserves by 2010
|
| China aims to increase its strategic oil reserves up the
current 2-3 million tons to 12 million tons by 2010. |
| 14th September, 2007 |
|
|
|
World Bank raises China's GDP forecast to 11.3%
|
| The World Bank raised its forecast for China's GDP from
10.4% to 11.3% this year, saying the country's rapidly
expanding economy is well-placed to absorb the impact of
recent turmoil in the global financial markets. |
| 14th September, 2007 |
|
|
|
China agrees to ban lead paint on toy exports to U.S.
|
| Chinese officials sat down with their American
counterparts and signed an agreement on September 11 to
ban the use of lead paint on toys exported to the U.S. |
| 14th September, 2007 |
|
|
|
Cosmetics packaging required to list all ingredients
|
| The State Administration for Quality Supervision and
Inspection and Quarantine (AQSIQ) issued regulations on
the management of labels for cosmetics, which will go into
effect on September 1. |
| 14th September, 2007 |
|
|
|
NDRC approves Jinchuan Group, Allegiance Mining JV
|
| The National Development and Reform Commission has
approved a JV between the Jinchuan Group and Allegiance
Mining NL called the Avebury Nickel Sulphide cooperative
project. |
| 13th September, 2007 |
|
|
|
Warning symbols to be printed on cigarette packets from 2009
|
| Chinese tobacco producers will have to print warning
images, such as diseased lungs, on cigarette packages by
Januany 2009 to realize the country's commitment to
the "Framework Convention on Tobacco Control", a Ministry
of Health official said on September 11. |
| 13th September, 2007 |
|
|
|
China drafting credit management rules
|
| On September 11, Shao Fujun, director general of the
credit management bureau of the People's Bank of China,
said the rules for credit management are being drafted. |
| 13th September, 2007 |
|
|
|
Three Gorges Reservoir residents may have to relocate again
|
| China's leaders are once again facing questions over the
Three Gorges Dam following unforeseen problems, including
landslides and water pollution. |
| 13th September, 2007 |
|
|
|
Product quality issues used as trade barrier: AQSIQ official
|
| A senior official on September 11 warned that some foreign
countries are playing up China's product quality issues
and using them as trade barriers to protect their domestic
trade interests. |
| 13th September, 2007 |
|
|
|
EU Chamber of Commerce releases annual position paper
|
| While trade between the European Union and China continues
to thrive, it would be stronger if Beijing opened markets
further to allow fair and impartial trade, according to
the EU Chamber of Commerce's annual position paper. |
| 13th September, 2007 |
|
|
|
Hewlett-Packard receives smart phone license in China
|
| On September 11, Hewlett-Packard officially confirmed that
it has received approval for its new smart phone in China. |
| 13th September, 2007 |
|
|
|
Anti-Monopoly Law will not affect justifiable M&A deals: Qiong
|
| On Sept. 10, Zhang Qiong, vice chairman of the Legislative
Affairs Office of the State Council, in Xianmen said that
the recently issued Anti-Monopoly Law will not influence
justifiable merger and acquisition deals. |
| 12th September, 2007 |
|
|
|
Ministry of Commerce will help Chinese firms protect rights overseas
|
| On Sept. 10, Shang Ming, head of the Regulations and
Decrees Division of the Ministry of Commerce, told a forum
in Xiamen that the Ministry of Commerce plans to help
Chinese companies protect their rights overseas. |
| 12th September, 2007 |
|
|
|
Economic policies best way to protect environment: Yue
|
| Pan Yue, vice director of the State Environmental
Protection Administration (SEPA), said environmental
offenders have been penalized in four large investigations
into polluters, which have been carried out since 2005. |
| 12th September, 2007 |
|
|
|
China to cooperate with APEC members on trade: Xilai
|
| China will continue to work actively with all members of
the World Trade Organization toward achieving a package of
balanced outcomes from the Doha Round negotiations to
promote world economic growth in an harmonious manner,
Commerce Minister Bo Xilai said at the 19th Ministerial
Meeting of the Asia-Pacific Economic Cooperation (APEC). |
| 12th September, 2007 |
|
|
|
Inflation up in wholesale sector in July
|
| The Producer Product Index (PPI), a measure of inflation
at the wholesale level, increased 2.6% in August, or 0.2%
more than in July, the National Bureau of Statistics said
on Sept. 10. |
| 12th September, 2007 |
|
|
|
English translation of Anti-Monopoly Law available online
|
| Sign in to download Squire, Sanders and Dempsey LLP¡¯s
unofficial English translation of the Anti-Monopoly Law,
which was promulgated by the Standing Committee of the
National People¡¯s Congress on August 30, 2007. |
| 11th September, 2007 |
|
|
|
China to tackle flow of "hot money" in stock markets
|
| China will accelerate a crackdown on companies suspected
of manipulating share prices and re-invigorate
the ''education'' of retail investors amid renewed fears
that the country's stock markets are overheating. |
| 11th September, 2007 |
|
|
|
Qingdao Port receives RMB6.9b in investment
|
| Qingdao Port has signed a contract with the AP Moller
Maersk Group of Denmark, P&O of Britain, and the China
Ocean Shipping (Group) (COSCO). |
| 11th September, 2007 |
|
|
|
Draft regulation gives labor unions the right to supervise job cuts
|
| On September 7, the Standing Committee of Guangzhou
Municipal People¡¯s Congress published a draft regulation
on labor union laws. |
| 11th September, 2007 |
|
|
|
Zhejiang to stop approving projects that exploit islands
|
| The Zhejiang provincial government has issued a circular
saying it will not issue any more approvals for new
projects that exploit the environment of the islands off
its coast. |
| 11th September, 2007 |
|
|
|
New report on changes to processing trade and VAT policy
|
| AmCham South China has published a new report on changes
to China's processing trade and VAT policy online. |
| 10th September, 2007 |
|
|
|
Colleges and universities warned not to invest in stock market
|
| China's education authorities have warned colleges and
universities not to invest in stocks and bonds, as punters
have poured into the stock markets in past months. |
| 10th September, 2007 |
|
|
|
Mainland, Taiwan can work closely on industrial cooperation: Wu Yi
|
| Chinese Vice-Premier Wu Yi on September 6 said the
mainland and Taiwan can work closely on industrial
cooperation to deal with the tough competition brought
about by globalization and regional economic integration. |
| 10th September, 2007 |
|
|
|
Time for Beijing to "get tough on Taiwan": Jintao
|
| President Hu Jintao on September 6 told his U.S.
counterpart George W. Bush that Beijing has to send
tougher warnings to the Taiwan authorities, as the
situation across the Taiwan Straits has entered a "highly
dangerous period". |
| 10th September, 2007 |
|
|
|
NDRC releases forecast on steel product prices in 2H 2007
|
| On September 6, the National Development and Reform
Commission (NDRC) released its forecast for steel product
prices in 2H 2007. |
| 10th September, 2007 |
|
|
|
US to loosen visa policy for Chinese tourists
|
| The China National Tourism Administration and U.S.
Department of Commerce will sign an agreement at the end
of this year on loosening U.S. tourist visa processes for
Chinese citizens. |
| 7th September, 2007 |
|
|
|
EU wants to work with China on cooperation policy
|
| The EU will closely follow the implementation of China's
Anti-monopoly law and hopes to work with China on
competition policy, said visiting EU Competition
Commissioner Neelie Kroes during her first official visit
to China on September 5. |
| 7th September, 2007 |
|
|
|
New rules to curb stock price fluctuations
|
| The China Securities Regulatory Commission (CSRC) has
announced new rules for stock trading to prevent and curb
irregularities. |
| 7th September, 2007 |
|
|
|
China will submit 4G standard to ITU
|
| An official from China's Ministry of Information Industry
(MII) says China is preparing to submit a 4G standard to
the International Telecommunications Union. |
| 6th September, 2007 |
|
|
|
Employees in foreign-funded insurance companies will increase 133% by 2010: PwC
|
| PricewaterhouseCoopers has just finished a report about
foreign-funded insurance companies in China. The PwC
survey, composed of interviews with chief executives and
senior executives from 24 foreign insurance companies in
the mainland, found that the most pressing issues are the
lack of skilled people and the inadequacy of distribution
channels. |
| 6th September, 2007 |
|
|
|
China plans RMB2tr spending on renewables
|
| China plans to spend around RMB2tr - or one tenth of its
GDP in 2006 - to develop renewable energy and cut
greenhouse gas emissions over the next ten years, the top
economic planner revealed on September 4. |
| 6th September, 2007 |
|
|
|
NYSE to set up representative office in Beijing
|
| China's securities regulator on September 4 announced that
it has given the New York Stock Exchange (NYSE) the green
light to open a representative office in Beijing. The NYSE
is the first organization to win approval since the new
rules allowing overseas stock exchanges to set up offices
came into effect on July 1. |
| 6th September, 2007 |
|
|
|
Pricing reform for China oil giants unlikely
|
| Surging oil prices and the rising demand for gasoline and
diesel have created a difficult environment for Chinese
refiners because of the price caps on refined products. |
| 6th September, 2007 |
|
|
|
Acer and China Huala Group announce Blu-ray allegiance
|
| The Blu-ray Disc Association made several announcements at
the IFA consumer electronics show in Berlin this year. |
| 5th September, 2007 |
|
|
|
Sinopec starts gas pipeline from southwest to east China
|
| China Petrochemical Corp, or the Sinopec Group, announced
it has started building its first national natural gas
pipeline from China's southwest to the affluent east. |
| 5th September, 2007 |
|
|
|
France's Total buys 20 gas stations in north China
|
| Industry officials have announced that Total from France
has acquired more than 20 private gas stations in the
northeast Chinese province of Liaoning, as well as a
number of oil wholesalers. |
| 5th September, 2007 |
|
|
|
EU Competition Commissioner Kroes visits China
|
| EU Competition Commissioner Neelie Kroes said she will
visit China from September 3 to 5 to strengthen bilateral
cooperation over the antitrust policy. |
| 4th September, 2007 |
|
|
|
Anti-Monopoly Law provides stiff penalties for price gouging
|
| China's Anti-Monopoly Law seeks to promote fair
competition and further open up the economy. The law bans
monopolistic agreements and practices such as cartels and
price-fixing but allows for monopolies that promote
innovation and technological advances. |
| 4th September, 2007 |
|
|
|
WTO to investigate complaint against China
|
| The World Trade Organization has agreed to investigate a
complaint by the U.S. and Mexico alleging that China
illegally subsidizes domestic industries through tax
reductions. |
| 4th September, 2007 |
|
|
|
China Construction Bank, Bank of Communications to set up financial leasing companies
|
| China Construction Bank and the Bank of Communications
(BoCom) plan to set up financial leasing companies to
provide more highly integrated financial services to their
clients. |
| 3rd September, 2007 |
|
|
|
Twelve Shanghai banks to work with courts to improve financial security
|
| Twelve banks in Shanghai - including China Construction
Bank, Bank of Shanghai, Pudong Development Bank, CITIC
Bank and Agricultural Bank of China - plan to work with
courts to improve financial security. |
| 3rd September, 2007 |
|
|
|
China Mobile launches mobile TV with CRI
|
| On August 30, China Mobile joined hands with China Radio
International (CRI) to launch a mobile TV series. |
| 3rd September, 2007 |
|
|
|
WTO discusses China-U.S. IPR disputes
|
| On August 31, the World Trade Organization (WTO) will set
up a dispute settlement panel to discuss the intellectual
property rights (IPR) disputes between China and the
United States. |
| 3rd September, 2007 |
|
|
|
Alipay launches international service for Chinese consumers
|
| Alipay, an online payment service and subsidiary of
China's Alibaba Group, issued a statement saying it has
launched a new international service that allows Chinese
consumers to buy directly online from global retailers. |
| 31st August, 2007 |
|
|
|
Crack down on SOEs that don't meet energy efficiency targets
|
| China's state asset watchdog pledged on August 29 to crack
down on state-owned firms that fail to meet energy
efficiency targets, warning that bosses of non-compliant
firms could lose their jobs. |
| 31st August, 2007 |
|
|
|
CNPC and Sinopec cut oil wholesale prices
|
| China National Petroleum Corp (CNPC) and China Petroleum &
Chemical Corporation (Sinopec) have started cutting oil
product wholesale prices. Oil products were in short
supply in South China. |
| 31st August, 2007 |
|
|
|
PwC issues a report on foreign funds in China
|
| On August 29, PricewaterhouseCoopers issued a report about
foreign funds in China. The total assets managed by fund
companies have increased to RMB1.79tr from RMB339b at the
end of 2005. |
| 31st August, 2007 |
|
|
|
IATA implements plan to phase out paper tickets
|
| The International Air Transport Association (IATA) has
announced that it has placed its final order for paper
tickets. |
| 30th August, 2007 |
|
|
|
China issues RMB600b in 10-year special bonds
|
| The Ministry of Finance issued RMB600b in 10-year fixed-
rate special treasury bonds with a yield of 4.3% on August
29. |
| 30th August, 2007 |
|
|
|
Green procurement policy to help government save energy
|
| The Chinese government has issued a notice on implementing
a green procurement policy that would make it compulsory
for government departments to purchase some energy-saving
products. |
| 30th August, 2007 |
|
|
|
NDRC plans stiff penalties for price gouging
|
| Mounting inflationary pressure and public concerns about
further price rises have led the government to impose
tougher punishments on organizations and individuals who
manipulate prices. |
| 30th August, 2007 |
|
|
|
EU to investigate anti-dumping tarriff evasion
|
| The EU Trade Commission has issued a formal note to the
Chinese Ministry of Commerce warning that the EU plans to
launch an investigation into tariff evasion by mainland
shoe manufacturers and exporters who ship their products
to Europe via Macau. |
| 29th August, 2007 |
|
|
|
Government tells foreign investors to look after environment
|
| The Chinese government has urged foreign investors to pay
more attention to environmental protection and energy
conservation. |
| 29th August, 2007 |
|
|
|
Lawmakers debate draft circular economy draft
|
| Law-makers are deliberating a draft law on China's
recycling economy, designed to boost sustainable
development by reducing pollution and energy consumption. |
| 29th August, 2007 |
|
|
|
EU to draft anti-dumping law on ferro-silicon
|
| The European Commission will sound out member states'
views on introducing anti-dumping duties against ferro-
silicon products imported from a bloc of nations that
includes China, Russia, Kazakhstan, Egypt and Macedonia. |
| 29th August, 2007 |
|
|
|
Carlsberg reacts to reports about pollution in China
|
| Soren Ravn, vice president of Carlsberg Group in the China
region, said in an interview that Carlsberg is very
concerned about environmental protection and does its best
to make improvements in China. |
| 29th August, 2007 |
|
|
|
West China crude oil pipeline begins operation
|
| China National Petroleum has announced that its West China
crude oil pipeline has officially started operating. A
terminal in the city of Lanzhou in Gansu province received
its first delivery of crude oil from the Xinjiang
Autonomous Region. |
| 29th August, 2007 |
|
|
|
Seven provinces and two cities build "Yangtze River gold water channel"
|
| On August 26, a ceremony was held in Shanghai to launch
the contruction work on the "Yangtze River gold water
channel." Communications Vice Minister Xu Zuyuan attended
the ceremony. |
| 28th August, 2007 |
|
|
|
Inner Mongolia starts Erdos Eco-town sustainable sanitation project
|
| Erdos in southwest Inner Mongolia will host a sustainable
sanitation project called the China-Sweden Erdos Eco-town
project. |
| 28th August, 2007 |
|
|
|
Baosteel to negotiate with global iron ore suppliers in 2008
|
| Global steel companies are working together with iron ore
mines, making it difficult for Chinese steel companies to
purchase enough iron ore to meet their needs. |
| 28th August, 2007 |
|
|
|
Carrefour staff arrested on corruption charges
|
| Local police have detained eight management-level
employees from Carrefour SA for allegedly taking bribes
from suppliers. The arrests resulted from an internal
crackdown on graft by the Paris-based company, the world's
second largest retailer. |
| 28th August, 2007 |
|
|
|
U.S. cases violate WTO rules: Commerce Vice-Minister
|
| China's Vice-Minister of Commerce Gao Hucheng on August 23
said the United States is violating World Trade
Organization (WTO) rules by conducting both anti-dumping
and countervailing investigations against Chinese products. |
| 27th August, 2007 |
|
|
|
10,000 foreign-invested company employees sign collective employment agreements
|
| More than 10,000 employees from 46 foreign-invested
companies signed collective employment agreements at a
ceremony in Beijing on August 23. |
| 27th August, 2007 |
|
|
|
SARFT pulls plug on live plastic surgery TV show
|
| China's broadcasting watchdog has ordered a television
station in Guangdong Province to stop showing a reality TV
show that included live scenes of doctors performing
plastic surgery, saying it was too gory and included too
much nudity. |
| 27th August, 2007 |
|
|
|
PetroChina reports RMB81.83b in net profits for 1H 2007
|
| PetroChina on August 24 reported that its net profit for
the first half of 2007 was RMB81.83b. |
| 27th August, 2007 |
|
|
|
Shagang to purchase 90% stake in Australian iron ore project
|
| The privately-run Jiangsu Shagang Iron and Steel Group
(Shagang), China's fourth largest steel mill, is currently
negotiating with UK-based trading company Stemcor Holdings
to acquire a 90% stake in the Savage River iron ore
project in Australia. |
| 27th August, 2007 |
|
|
|
Beijing raises vehicle and ship taxes
|
| The Beijing Local Taxation Bureau set the time frame for
collecting the newly increased vehicle and ship taxes on
Thursday, August 23. The tax is based on the Provisional
Regulations of the People's Republic of China for Tax on
Vehicles and Ships, which was implemented on January 1,
2007. |
| 27th August, 2007 |
|
|
|
China reports quality problems with U.S. soybeans
|
| On August 21, China said it had found "substantial"
quality problems in imports of U.S. oilseed and urged
Washington to investigate and improve its procedures. |
| 24th August, 2007 |
|
|
|
China to prioritize drinking water safety: Jiabao
|
| Chinese Premier Wen Jiabao highlighted the issue of
drinking water safety in urban and rural areas at a
meeting of the State Council on Wednesday, August 22. |
| 24th August, 2007 |
|
|
|
Olympics organizers back Sohu in dispute
|
| The organizers of the Beijing Olympics have thrown their
weight behind Sohu.com in the Chinese web portal's feud
with its rivals over advertising during the 2008 Games. |
| 24th August, 2007 |
|
|
|
New regulations on cosmetics labelling planned for 2H 2007
|
| New regulations on cosmetics labeling are expected to be
released in the second half of 2007. The regulations
stipulate that the maximum SPF value allowed to be
displayed on sunscreen product labels is SPF30+. |
| 24th August, 2007 |
|
|
|
Shanghai ROI 3% higher than China average
|
| The average return on investment (ROI) in Shanghai is 3%
higher than the average for China, according to a white
paper on Shanghai's investment environment issued by the
Shanghai Foreign Economic Relations & Trade Commission on
August 21. |
| 23rd August, 2007 |
|
|
|
Central bank toughens stance against inflation
|
| On August 21, China's central bank announced it will
increase the one-year deposit rate by 27 points and the
one-year lending rate by 18 points from August 22. |
| 23rd August, 2007 |
|
|
|
Baoshan Iron & Steel delegation travels overseas
|
| On August 15, a delegation led by Luo Bingsheng, vice
chairman and secretary general of the China Iron and Steel
Association, flew to Brazil. |
| 23rd August, 2007 |
|
|
|
China sets up consular protection center
|
| The Foreign Ministry will expand its consular services to
better protect the interests of Chinese citizens living or
traveling abroad, a senior official said in Beijing on
August 21. |
| 23rd August, 2007 |
|
|
|
Five state-owned enterprises sign Australian agreement
|
| Five Chinese state-owned enterprises have signed an
agreement with Australian Yilgarn Infrastructure to
jointly compete for a railway and port project in
Australia. |
| 22nd August, 2007 |
|
|
|
Private and foreign firms encouraged to revitalize China's northeast
|
| Private and foreign enterprises are encouraged to play a
major role in the revitalization of northeast China, the
country's old industrial base, a high-ranking official
said on August 20. |
| 22nd August, 2007 |
|
|
|
Shanghai plans to cut energy consumption in retail sector
|
| Shanghai is planning to implement a series of projects to
help the retail sector save energy. The city aims to
completely renovate energy-saving equipment and cut energy
consumption per RMB10,000 of gross domestic product by 15%
in 2010. |
| 22nd August, 2007 |
|
|
|
CPI increase is structural: NDRC
|
| The rising consumer price indices in China do not indicate
impending inflation, according to Cao Changqing, director
general of the Department of Prices of the National
Development and Reform Commission (NDRC). |
| 22nd August, 2007 |
|
|
|
Private oil retailers launch appeal for industrial change
|
| China's leading organization for private oil retailers has
lodged an application with the top economic planning
department for changes to the oil industry, which is
dominated by state-owned giants. |
| 22nd August, 2007 |
|
|
|
CNOOC signs contract for deep sea oil drilling equipment
|
| Norway's Aker Kvaerner ASA has announced that it has won a
USD130m contract to provide drilling equipment and a
deepwater drilling unit to the China National Offshore Oil
Corp (CNOOC). |
| 21st August, 2007 |
|
|
|
4,866 officials punished for mis-using public funds
|
| The Chinese government has punished 4,866 government
officials for mis-using public funds in the first half of
2007, according to the Ministry of Supervision (MOS). |
| 21st August, 2007 |
|
|
|
China's pension fund will continue to invest overseas
|
| China's National Social Security Fund will continue to
invest in overseas markets despite the global turmoil that
has resulted from the U.S. subprime mortgage sector
troubles, said fund chairman Xiang Huaicheng. |
| 21st August, 2007 |
|
|
|
Subprime credit crisis threatens China's stock markets
|
| Morgan Stanley economist Wang Qing has written a note
warning clients that the sub-prime credit crisis has the
potential to slow China's economic growth and cause the
stock market to tumble. |
| 21st August, 2007 |
|
|
|
New high temperature subsidy for Beijing workers
|
| Workers will receive subsidies for working when the
temperatures are high, under a new circular issued by the
Beijing Municipal Labor and Social Security
Administration. |
| 21st August, 2007 |
|
|
|
Revaluate Renminbi against Euro, British pound: State Information Center
|
| China's trade surplus will soar to USD275b this year, up
from a record $177.5b in 2006, according to a report from
the State Information Center. |
| 20th August, 2007 |
|
|
|
Second reading of China¡¯s first anti-monopoly law
|
| On August 16, China University of Political Science and
Law Professor Shi Jianzhong said China's top legislature
has read the draft of China's first anti-monopoly law for
the second time. |
| 20th August, 2007 |
|
|
|
U.S. Pharmacopeia establishes first China branch in Shanghai
|
| The Board of Directors of United States Pharmacopeia (USP)
have decided to establish a branch in Shanghai to help
USP meet its mission to care for the health of people
around the world by helping consumers use safe, effective
and high-quality medical products. |
| 20th August, 2007 |
|
|
|
Construction starts on nuclear plant in northeast China
|
| The construction of the first nuclear power plant in
northeast China started after one year of preparation in
Dalian, Liaoning province, last week. |
| 20th August, 2007 |
|
|
|
NDRC promises private oil firms regular oil supply
|
| The National Development and Reform Commission (NDRC) will
provide 5m tons of refined oil every year to qualified
private oil enterprises, said Zhao Youshan, head of the
oil circulation commission under the China General Chamber
of Commerce. |
| 17th August, 2007 |
|
|
|
China will adjust resource and energy tax policies in 2H 2007
|
| Minister of Finance Jin Renqing at the recently concluded
National Finance Conference said China will continue to
adjust resource and energy tax policies in the second half
of this year. |
| 17th August, 2007 |
|
|
|
CAAC suspends new airline approvals until 2010
|
| CAAC will suspend approval of all new airline company
applications until 2010 to ensure the safety of the
booming aviation industry. |
| 17th August, 2007 |
|
|
|
Fake drugs make up 10% of global pharmaceutical trade: WHO
|
| The global trade in fake medicines is worth USD40b every
year, according to the World Health Organization (WHO) and
the FDA. |
| 17th August, 2007 |
|
|
|
China's industrial output up 18% in July
|
| China's industrial output grew by 18% in July, the
National Bureau of Statistics said on Wednesday, Aug. 15. |
| 17th August, 2007 |
|
|
|
China allows more foreign firms to sell yuan bonds
|
| The government will allow more foreign institutions to
sell yuan-denominated bonds in China and to use the
proceeds to buy foreign exchange and remit the money
overseas, according to the State Administration of Foreign
Exchange. |
| 17th August, 2007 |
|
|
|
U.S. asks WTO to rule in piracy complaint against China
|
| The Bush administration has asked the World Trade
Organization to rule in its complaint against China over
pirated copyright movies, music, software and books,
escalating a dispute that has caused tension in commercial
relations. |
| 16th August, 2007 |
|
|
|
China allows listed firms to issue corporate bonds
|
| On August 14, the China Securities Regulatory Commission
(CSRC) issued a series of statements giving long-awaited
approval for listed companies to issue corporate bonds on
a trial basis, a milestone for the country's budding bond
market. |
| 16th August, 2007 |
|
|
|
Private gas stations suffer oil supply shortage
|
| Private gas stations in China are suffering from an oil
supply shortage. China's oil imports jumped to a new
monthly high of 2.63m tons in July, according to data
released by the General Administration of Customs on
August 10. |
| 16th August, 2007 |
|
|
|
Coal prices to rise in 2008
|
| The price of coal on the international market will
continue to rise, according to a new report published by
the China Coal Transportation & Sale Society on August 14. |
| 16th August, 2007 |
|
|
|
Shandong Food and Drug Administration offers refunds for fake drugs
|
| Shandong residents will be able to get a refund from the
Shandong Food and Drug Administration if they purchase
fake drugs under a new regulation issued by the
administration. |
| 16th August, 2007 |
|
|
|
China to have 8.5m affluent households by 2015: MasterCard survey
|
| China's new urban rich are younger, better educated and
keener to travel than affluent people in other countries,
according to the results of a survey by MasterCard
released on August 13. |
| 15th August, 2007 |
|
|
|
New circular on affordable housing for urban poor
|
| On August 13, the State Council of the central government
instructed local governments across China to make
subsidized rental accommodation available by the end of
2010. |
| 15th August, 2007 |
|
|
|
Continental one step closer to mining license in Tibet
|
| Continental Minerals has announced that the Ministry of
Land and Resources for Mining Area Scoping ("MAS") has
approved its Xietongmen project in the Tibet Autonomous
Region of China. MAS approval is a significant step in the
process of obtaining a mining license. |
| 15th August, 2007 |
|
|
|
Founder Electronics sues Blizzard for RMB100m in compensation
|
| Founder Electronics has filed a lawsuit suing U.S. game
developer Blizard Entertainment for RMB100 in compensation
for using a Chinese character font in an online game
called "World of Warcraft" without permission. |
| 15th August, 2007 |
|
|
|
Top U.S. economists warn Congress against anti-China protectionist measures
|
| More than 1,000 top American economists have signed a
petition urging Congress not to impose protectionist
measures against China because they believe these measures
would hurt the U.S., said Georgetown University professor
Zhao Longyue in an interview. |
| 14th August, 2007 |
|
|
|
CASS researcher: China unlikely to sell U.S. dollars
|
| Chinese Academy of Social Sciences (CASS) economist Zhang
Ming has said the Chinese government is unlikely to sell
off a large amount of its U.S. dollar assets. |
| 14th August, 2007 |
|
|
|
Central banks inject cash to avert crisis of confidence
|
| The Federal Reserve, in a second day of action in concert
with the European Central Bank, provided USD38b of
reserves and pledged more "as necessary'' in a statement
unprecedented since just after the September 11, 2001
attacks. |
| 14th August, 2007 |
|
|
|
Executives to be punished if state-owned enterprises lose more than RMB1m
|
| The State-owned Assets Supervision and Administration
Commission branch of the Shandong Provincial Government
plans tol publish a regulation stipulating that executives
of state-owned companies will be punished if their
enterprises lose more than RMB1m. |
| 14th August, 2007 |
|
|
|
China investigates overseas state-owned companies
|
| The Ministry of Finance, State-owned Assets Supervision
and Administration Commission (SASAC), Ministry of
Commerce and State Administration of Foreign Exchange
(SAFE) are jointly checking overseas state-owned
companies, including overseas agencies of banks, insurance
companies and financial institutions. |
| 14th August, 2007 |
|
|
|
China bans unauthorized radio and TV channels
|
| The State Administration of Radio, Film and Television
(SARFT) has ordered four radio and TV stations to stop
operating their unauthorized channels no later than August
10. |
| 14th August, 2007 |
|
|
|
HSBC wins approval to set up first foreign bank in Chinese village
|
| On Thursday 9, HSBC announced it has become the first
foreign bank to receive Chinese government approval to set
up a bank in a village in Hubei in central China. |
| 13th August, 2007 |
|
|
|
SFDA drafts new rules to strengthen food and drug safety
|
| The State Food and Drug Administration (SFDA) on August 9
promised to tighten the supervision of exports of drugs
and medical devices. The SFDA is drafting detailed rules
to follow-up the provisions contained in the new
regulation the State Council issued on the supervision and
administration of food and other products. |
| 13th August, 2007 |
|
|
|
Renminbi deposits in foreign banks up 50.9%
|
| Renminbi deposits in foreign banks were up 50.9% over the
same period in 2006, according to the report the People's
Bank of China Shanghai office issued for July on August
9. |
| 13th August, 2007 |
|
|
|
New Beijing, Shanghai express air service
|
| On August 6, five Chinese airlines jointly launched the
first express air service between Beijing and Shanghai.
The Civil Aviation Administration of China (CAAC), which
initiated the service, is promising passengers a maximum
three-hour turnaround from final check-in to baggage
claim. |
| 13th August, 2007 |
|
|
|
Financial leasing companies must have RMB100m registered capital
|
| Financial leasing companies must have a minimum registered
capital of RMB100m and they must have a principal
contributor in their shareholder structure, under a new
regulation the China Banking Regulatory Commission issued
on August 10. |
| 13th August, 2007 |
|
|
|
China will update undesirable export list every year
|
| China plans to update the list of goods that the domestic
processing trade is discouraged from exporting every year,
Ministry of Commerce official Wang Qinhua said in a
webcast on the central government's website on Thursday,
August 9. |
| 13th August, 2007 |
|
|
|
New air logistics facility in Chengdu
|
| A large international air cargo handling facility will be
built in the new air logistics park at Chengdu Shuangliu
Airport by the end of this year, according to logistics
park owner Jiade Logistics & Investment Co. |
| 10th August, 2007 |
|
|
|
SARFT to investigate digital TV trials in provinces
|
| Wang Lian, deputy director of the Department of Science
and Technology of the State Administration of Radio, Film
and Television (SARFT), says SARFT recently issued two
successive circulars relating to station's conversion to
digital TV. |
| 10th August, 2007 |
|
|
|
Foreign exchange mortgage loans down in 1Q 2007
|
| The government's policies to limit foreign investment have
had an impact on the banking sector, according to the
latest issue of the magazine published by the Beijing
office of the State Administration of Foreign Exchange. |
| 10th August, 2007 |
|
|
|
Third round of U.S.-China steel industry talks close
|
| The third round of U.S.-Sino steel industry talks
concluded in Washington on August 3 without any
breakthroughs, according to the China Chamber of Commerce
for Metals, Chemicals Importers and Exporters. |
| 10th August, 2007 |
|
|
|
SFDA to hold fortnightly press conferences on food and drug security
|
| At a regular press conference on August 8, State Food and
Drug Administration (SFDA) spokesperson Yan Jiangying
announced the SFDA will hold fortnightly press conferences
to brief the media on food security in China. |
| 10th August, 2007 |
|
|
|
China tightens rules for foreign investment in insurance sector
|
| On August 9, the China Insurance Regulatory Commission
(CIRC) announced new rules to govern foreign investment in
the insurance sector. To participate in the insurance
sector, foreign investors must have at least two billion
dollars in assets. |
| 10th August, 2007 |
|
|
|
State Council approves plan to rejuvenate NE regions and old industrial bases
|
| On August 2, the State Council approved the plan to
rejuvenate China's northeast provinces and other old
industrial bases. Great progress has been made in these
regions since China launched the rejuvenation drive more
than three years ago. |
| 9th August, 2007 |
|
|
|
Chevron to develop PetroChina's Luojiazhai gas fields
|
| ChevronTexaco Corp. last week won a bid to become
PetroChina's partner in developing four natural gas fields
in southwest China's Sichuan province. |
| 9th August, 2007 |
|
|
|
Local governments to crack down on inflation in food
|
| Local pricing authorities have been told to crack down on
food producers and sellers if they try to increase food
prices to an unreasonable level, say sources from the
National Development and Reform Commission (NDRC). |
| 9th August, 2007 |
|
|
|
AQSIQ seeks public opinion on food label regulation
|
| The General Administration of Quality Supervision,
Inspection and Quarantine is collecting public opinion on
a new regulation it is drafting on food labels. |
| 9th August, 2007 |
|
|
|
Shanghai government issues new anti-corruption rules
|
| The Shanghai Party discipline inspection authority is
working to enhance its powers to supervise officials and
curb abuses of power in the wake of the social security
fund scandal. |
| 9th August, 2007 |
|
|
|
Beijing to cut traffic by 20-30% during Olympics
|
| China plans to take more than 1 million cars off the road
to improve traffic flow during the Beijing Olympics next
year, according to Liu Xiaoming, Beijing Traffic Committee
deputy director. |
| 9th August, 2007 |
|
|
|
Shanghai launches "green channel" for Hong Kong investors
|
| On August 1, a delegation of Shanghai government officials
in Hong Kong announced the city will open up to the Hong
Kong SAR under the Closer Economic Partnership Arrangement
(CEPA). To facilitate implementation of CEPA IV, Shanghai
has launched a "green channel" for Hong Kong investment. |
| 8th August, 2007 |
|
|
|
Chinese experts support open document format
|
| Microsoft is currently campaigning to have its new
document format, Office Open XML (OOXML), approved as an
ISO standard. But in May 2005, OASIS approved the Open
Document Format (ODF) standard, which serves the same
purpose as the new Microsoft OOXML. |
| 8th August, 2007 |
|
|
|
Power grid companies required to buy more renewable power
|
| The State Electricity Regulatory Commission (SERC) has
released a regulation requiring power grid companies to
give priority to purchasing electricity generated by
renewable energy projects over traditional power sources. |
| 8th August, 2007 |
|
|
|
EU to debate tariffs on Chinese energy-saving light bulbs
|
| The EU Commission will hold a meeting to discuss a bill to
cancel the tariffs on Chinese energy-efficient light bulbs. |
| 8th August, 2007 |
|
|
|
Second-tier cities attracting foreign property investors
|
| On July 31, the People's Bank of China in Shanghai issued
a report saying foreign funds have started flowing into
real estate markets in Tianjin, Shanxi, Guangxi, Hainan
and Chongqing. |
| 8th August, 2007 |
|
|
|
China to further curb steel exports
|
| China will further curb steel exports, improve energy and
reduce emissions. In the first half of 2007, net crude
steel exports increased by 179.7% or 19.87m tons over the
year before. |
| 7th August, 2007 |
|
|
|
Experts question high tax income growth in China
|
| China earned RMB2.49tr from tax in the first half of this
year, a record six-month high. The public have questioned
the need for such high levels of taxation, dissatisfied
that tax income is still geared towards increasing
government income, rather than acting for social justice. |
| 7th August, 2007 |
|
|
|
NDRC orders SOEs not to withhold oil from distributors
|
| The National Development and Reform Commission (NDRC) on
August 4 issued a notice ordering PetroChina and China
Petroleum & Chemical Corp, also known as Sinopec, to
refrain from withholding oil supplies to distributors. |
| 7th August, 2007 |
|
|
|
China to develop urban public transport networks
|
| Vice Minister of Construction Qui Baoxing told a
conference in Beijing that China will take more steps to
develop public transport to reduce energy consumption and
pollution. |
| 7th August, 2007 |
|
|
|
Senior Chinese official lambasts foreign media food safety reports
|
| Vice Commerce Minister Gao Hucheng has lambasted foreign
media for fabricating information about Chinese food
scares, claiming some organizations have viciously
sensationalized quality problems involved with a small
percentage of Chinese goods and companies. |
| 6th August, 2007 |
|
|
|
Arcelor Mittal wants EU action on Chinese steel imports
|
| The world's largest steelmaker, Arcelor Mittal, on August
2 said it wants the E.U. to take action against Chinese
steel imports by the end of the year because the imports
appear to be breaking international trade rules. |
| 6th August, 2007 |
|
|
|
Hong Kong, U.S. customs inspect clothing and textiles manufacturers
|
| Hong Kong and U.S. customs officers will inspect local
Hong Kong textiles and clothing factories for two weeks
from August 10. |
| 6th August, 2007 |
|
|
|
84% Chinese processing trade companies have foreign investment
|
| Senior Ministry of Commerce official Wang Qinhua says
foreign investors hold a stake in around 84% of China's
processing trade companies. The Ministry of Commerce will
expand the catalogue of goods subject to mandatory export
limits in the second half of 2007, following a move on
Monday to increase a tax on exporters, she added. |
| 6th August, 2007 |
|
|
|
China orders SOEs to report large investments
|
| China's state assets watchdog on Wednesday, August 1,
ordered all central state-owned enterprises (SOEs) to
report major investment activities in a bid to curb
investment risks. |
| 3rd August, 2007 |
|
|
|
Chinese liquor makers go international
|
| The CEO of the METRO Group recently visited China and met
with executives from the Wuliangye Group, a well-known
Chinese liquor manufacturer. The move is part of the
growing trend for Chinese liquor manufacturers to form
joint ventures (JVs) with foreign investors. |
| 3rd August, 2007 |
|
|
|
State Administration of Taxation to set up audit department
|
| On July 31, the State Administration of Taxation published
an announcement on its website saying it will establish an
audit department. |
| 3rd August, 2007 |
|
|
|
China opposes U.S. probe into off-road tires
|
| The Ministry of Commerce (MOFCOM) on Wednesday, August 1,
said the U.S. anti-dumping and anti-subsidy investigations
into Chinese off-road tires as wrong. |
| 3rd August, 2007 |
|
|
|
U.S. team in China for food safety talks
|
| A team of U.S. health officials have arrived in Beijing
for talks on tightening controls over the food and drug
trade, amid tensions triggered by U.S. restrictions on
questionable Chinese products. |
| 3rd August, 2007 |
|
|
|
Hong Kong manufacturers discuss development of processing trade
|
| On July 31, one hundred and fifty Hong Kong-based
enterprises attended a Federation of Hong Kong Industries'
conference about the development of the processing trade. |
| 2nd August, 2007 |
|
|
|
Australia's Arrow Energy, PetroChina sign letter of intent
|
| Australia's Arrow Energy announced it has signed a letter
of intent with PetroChina to seek an alliance on a coal
bed methane project in northwest China's Xinjiang region.
|
| 2nd August, 2007 |
|
|
|
China's fast food chains to raise prices
|
| More than 20 Chinese fast food chains will raise their
prices on Wednesday due to the mounting cost of raw
ingredients. |
| 2nd August, 2007 |
|
|
|
CCCMC denies U.S. steel manufacturer's claims
|
| The China Chamber of Commerce of Metals Minerals &
Chemicals Importers & Exporters (CCCMC) on July 31
dismissed U.S. steel manufacturers claims that China's
iron and steel industry is subsidized and aided by the
government. |
| 2nd August, 2007 |
|
|
|
Overview of Circular 130 on foreign-invested real estate development enterprises available online
|
| Foreign-invested real estate development enterprises are
facing stringent new restrictions after the State
Administration of Foreign Exchange (SAFE) issued Circular
130, ¡°Issuance of the List of First group of Foreign-
invested Real Estate Companies filed with the Ministry of
Commerce¡±, in July. |
| 1st August, 2007 |
|
|
|
New team to guide medical equipment purchases
|
| The China Medical Equipment Association has formed a team
of medical and healthcare experts to give the Ministry of
Health professional advice on the purchase of medical
equipment, in a move to clean up the corruption-plagued
healthcare sector. |
| 1st August, 2007 |
|
|
|
China amends regulations governing invoices
|
| The Chinese government is amending the regulations on
invoices, clarifying the definition of malpractice and
increasing penalties, to close the loopholes for tax
evaders. The State Council on Monday, July 30, published a
draft amendment to the regulation on invoices and asked
for public opinion. |
| 1st August, 2007 |
|
|
|
China issues first licenses for crude oil sales
|
| The Ministry of Commerce has released a statement saying
it has granted the first set of licenses to companies who
want to engage in crude oil sales operations, including
PetroChina, Sinopec, CNOOC Refining, Sinochem
International and China Arts Huahai Import & Export. |
| 1st August, 2007 |
|
|
|
Local governments warned against price intervention
|
| The National Development and Reform Commission (NDRC) on
July 31 warned local governments not to directly intervene
with market prices unless it is "necessary", adding that
any price intervention measures will need the approval of
provincial governments or central authorities. |
| 1st August, 2007 |
|
|
|
World Bank may work with China on food security
|
| On July 25, World Bank President Robert Zoellick told a
press conference that China is a very important partner
for the World Bank, in part because it still faces very
significant challenges for internal development. |
| 27th July, 2007 |
|
|
|
Beijing seeks special authority for Olympics
|
| On July 26, Beijing's municipal government asked the
city's top legislature to give it the power to take
whatever temporary measures are necessary to respond to
unexpected problems before and during the Olympic Games. |
| 27th July, 2007 |
|
|
|
CBRC chair says government should help small business
|
| Government departments at all levels should work to create
a more favorable environment for financing small
enterprises, the chairman of the China Banking Regulatory
Commission (CBRC) said yesterday, July 26. |
| 27th July, 2007 |
|
|
|
Sinopec to start work on Sichuan-Shanghai gas line
|
| An exclusive source from Sinopec on Wednesday, July 25,
revealed that the construction of a planned pipeline to
deliver natural gas from Sichuan to eastern China will
start next month. |
| 27th July, 2007 |
|
|
|
China strengthens fight against money laundering
|
| The People's Bank of China is seeking cooperation from
insurance companies, securities institutions and other non-
financial organizations to curb the incidence of money
laundering in China. |
| 27th July, 2007 |
|
|
|
China fights official corruption with credit cards
|
| The Chinese government will provide civil servants with
credit cards to use for all expenses related to their
official duties in a bid to make public spending more
transparent and combat corruption. |
| 27th July, 2007 |
|
|
|
U.S. Treasury Secretary Paulson to visit China
|
| U.S. Treasury Secretary Henry Paulson announced plans on
Tuesday, July 24, to visit China next week for talks on
economic and trade issues amid simmering discontent at
home over Chinese trade policies. |
| 27th July, 2007 |
|
|
|
Chinese textile exports to EU to grow steadily
|
| China's textile exports to the EU are not expected to
increase sharply next year after the EU removes quota
restrictions on the textile trade under a bilateral
agreement signed in June 2005, said Wang Shouwen, director
of the Ministry of Commerce (MOFCOM)'s foreign trade
department. |
| 27th July, 2007 |
|
|
|
China bans more imported animal products
|
| On July 15, the Ministry of Agriculture announced it has
banned poultry imports from Germany, the Czech Republic
and the U.S. state of Virginia due to local outbreaks of
an animal disease like bird flu. |
| 27th July, 2007 |
|
|
|
New rules allow Chinese insurers to invest assets abroad
|
| Chinese insurers will be allowed to invest 15% of their
assets abroad under long-awaited regulations issued on
July 25, marking the latest relaxation of China's capital
controls. |
| 27th July, 2007 |
|
|
|
China's industrial growth up 20.1% in 1H 2007
|
| On July 25, the National Development and Reform Commission
held a press conference about China's economic growth in
the first half of 2007. |
| 27th July, 2007 |
|
|
|
E-commerce grows 60% in Shanghai
|
| The total volume of online trade in Shanghai in the first
half of 2007 grew to RMB160b, an increase of 60% over the
same period in 2006. The manufacturing sector accounted
for around 17% of the growth. |
| 26th July, 2007 |
|
|
|
China to introduce fuel oil tax at "suitable time"
|
| On July 24, Deputy Finance Minister Zhu Guangyao told a
forum China plans to introduce a tax on fuel oil at
a "suitable time". |
| 26th July, 2007 |
|
|
|
Prices continue upward trend
|
| China's Consumer Price Index (CPI) will continue to rise
in the second half of this year after growing 3.2% in the
first six months, the country's top planning agency said
on Wednesday, July 25. |
| 26th July, 2007 |
|
|
|
Beijing sets up food recall system
|
| The Beijing food safety authority will set up a food
recall system and improve inspections of catering business
and food processing to improve the quality of food
available in the city. |
| 26th July, 2007 |
|
|
|
Ministries conduct checks on overseas state-owned companies
|
| The Ministry of Finance, State-owned Assets Supervision
and Administration Commission, Ministry of Commerce and
State Administration of Foreign Exchange will conduct
checks on overseas state-owned companies, including the
overseas agencies of banks, insurance companies and
financial institutions. |
| 26th July, 2007 |
|
|
|
Antimalarial drug prices falling due to oversupply
|
| On July 23, Novartis announced it will buy 55.5 tons of
artemisinin, an antimalarial drug, from Chinese
manufacturers this year. |
| 25th July, 2007 |
|
|
|
Instant noodle prices to increase 40%
|
| On July 23, Meng Suhe, secretary general of the China
Association of Food Science and Technology, said the
prices of mid-range and low-end instant noodles will
increase up to 40% due to the rising cost of the
ingredients. |
| 25th July, 2007 |
|
|
|
China puts new curbs on processing trade
|
| On July 23, China announced it will introduce a new policy
designed to curb the development of processing trade in
highly polluting, high energy consumption industries, in a
bid to reduce the increasing trade surplus. |
| 25th July, 2007 |
|
|
|
2,374 Chinese vehicles meet new fuel consumption standard
|
| 2,374 models from 95 Chinese manufacturers meet the 2006
national standard for passenger vehicle fuel consumption
in China, according to a list released by China¡¯s National
Development and Reform Commission (NDRC). |
| 25th July, 2007 |
|
|
|
Declining profits hit China's toy industry
|
| The revaluation of the renminbi, rising prices of raw
materials and adjustment on export tax rebates has had a
negative impact on the toy industry in China, where profit
margins have shrunk from 15% to 0%. |
| 25th July, 2007 |
|
|
|
Woman charged for tax evasion via online trading
|
| In the first case of its kind in China, a Shanghai woman
has received a two-year jail term with two years of
probation and a hefty fine for tax evasion during online
trading. |
| 24th July, 2007 |
|
|
|
China to reassess food safety supervision system
|
| The Chinese government is reassessing the way it
supervises food safety to improve the efficiency of the
current system, a senior quality control official said on
Friday, July 20. |
| 24th July, 2007 |
|
|
|
Film studios file video piracy case in Beijing
|
| On July 20, five of the world's biggest film studios filed
an application at the Second Intermediate People's Court
in Beijing to sue two Chinese companies for video piracy. |
| 24th July, 2007 |
|
|
|
China raises interest rate, slashes savings interest income tax
|
| On July 20, the central bank said it will raise interest
rates for the third time this year and slash the interest
tax on bank savings. The announcement was made one day
after the strong economic results for the first half of
the year were released. |
| 24th July, 2007 |
|
|
|
Eighteen TV stations to provide digital TV
|
| Eighteen TV stations will provide digital TV services when
China's homegrown digital TV standard is released on
August 1, including Beijing, Shanxi, Jiangxi and Qingdao
TV. |
| 24th July, 2007 |
|
|
|
China's economy grows 11.5% in 1H 2007
|
| China's economy grew 11.5% in the first six months of
2007, the National Bureau of Statistics said on Thursday,
July 19. |
| 23rd July, 2007 |
|
|
|
Tencent, Sina, Netease form Olympics media alliance
|
| On July 19, Tencent, Sina and NetEase announced they will
combine media resources and form an Olympics reporting
alliance. |
| 23rd July, 2007 |
|
|
|
China plans crude oil reserves
|
| China has launched a plan to set up a State Crude Oil
Storage Center to help secure energy supplies in the event
of a disruption in supply or increase in oil prices. |
| 23rd July, 2007 |
|
|
|
Beijing Dairy Association to stop unfair marketing
|
| The Dairy Association of Beijing announced they will stop
unfair competition and unreasonable marketing promotions
at a meeting it held in Beijing on July 19. |
| 23rd July, 2007 |
|
|
|
Sinopec, CNOOC sign Guangdong gas supply JV deal
|
| China Petrochemical (Sinopec) and China National Offshore
Oil (CNOOC) have signed an agreement to set up a joint
venture natural gas supply and transmission project with
the Guangdong provincial government. |
| 23rd July, 2007 |
|
|
|
MII to fund companies for new digital TV standard
|
| China's new digital TV standard will come into effect on
August 1. |
| 23rd July, 2007 |
|
|
|
Overview, English translations of Labor Contract Law available
|
| AmCham-China is pleased to offer public access to Squire,
Sanders and Dempsey LLP¡¯s Overview of the Labor Contract
Law, as part of the China Business Insight service.
Members can also sign in to access two English
translations of the law: the official translation by
Xinhua and an unofficial translation prepared by Baker &
McKenzie. |
| 20th July, 2007 |
|
|
|
EU Commission considers dropping anti-dumping tariffs
|
| The EU Commission will soon hold a meeting to discuss
whether to drop anti-dumping tariffs on Chinese energy-
saving lights. If the bill is unanimously adopted, the EU
Commission will drop the tariffs, which have been
implemented for six years against Chinese manufacturers. |
| 20th July, 2007 |
|
|
|
EU Chamber of Commerce on China's new labor law
|
| The European Union Chamber of Commerce has said China's
sweeping new labor law will improve workplace conditions
without deterring foreign investment, adding that it is
not concerned about its impact on Euorpean investment in
China. |
| 20th July, 2007 |
|
|
|
Technology to be used in 2008 Olympics
|
| Representatives from the Beijing Olympic Committee and
China Mobile have announced that the full range of
advanced telecommunications technology will be used during
the 2008 Olympics. TD-SCDMA, complemented by HSDPA, will
be the main 3G mobile service used. |
| 20th July, 2007 |
|
|
|
New Ministry of Health ruling on "novel food"
|
| A new regulation on "novel food" will come into effect on
December 1, the Ministry of Health announced on July 18. |
| 20th July, 2007 |
|
|
|
Resources tax on lead, zinc, copper and tungsten to rise
|
| China is to increase the resources tax levied on lead,
zinc, copper and tungsten ores from August 1. |
| 19th July, 2007 |
|
|
|
Chinese officials involved in international bribery case
|
| U.S. federal securities regulators charged a former
Schnitzer Steel Industries executive with bribing Chinese
steel mill managers. |
| 19th July, 2007 |
|
|
|
China, Turkmenistan ink natural gas deal
|
| On July 17, China and Turkmenistan signed a series of
cooperation agreements on trade, technology, education and
energy, including two on sharing natural gas products and
a gas purchase. |
| 19th July, 2007 |
|
|
|
No quota limits for Chinese textile exports to EU in 2008
|
| On July 17, China National Textile and Apparel Council
spokesman Sun Huaibin said there will be no quota limits
on Chinese textile exports to the European Union in 2008. |
| 19th July, 2007 |
|
|
|
MII issues 3G video telephone standard
|
| The Ministry of Information Industry has published an
industry standard for 3G video telephone services based on
TD-SCDMA and WCDMA technology. |
| 18th July, 2007 |
|
|
|
Ministry of Commerce calls for NE Asian free trade zone
|
| The Ministry of Commerce has called for a free trade zone
to be established in northeast Asia. |
| 18th July, 2007 |
|
|
|
34 Chinese enterprises issue CSR reports
|
| Thirty-four Chinese enterprises issued corporate social
responsibility (CSR) reports by June 22, according to
information revealed at the First International Seminar on
China's CSR Reporting held in Beijing on July 16. |
| 18th July, 2007 |
|
|
|
EU member states to comply with EuP Directive
|
| On July 12, the Guangdong office of the Chinese WTO/TBT
(Technical Barrier to Trade) National Notification
Authority and Enquiry Center and French Bureau Veritas
jointly held a conference on the ¡°Energy Using Products
(EUP) Directive¡±. |
| 18th July, 2007 |
|
|
|
China suspends U.S. pork, chicken feet imports
|
| China's quarantine bureau has suspended imports of frozen
chicken and pork parts from top U.S. meat and poultry
processors, as the international scrutiny of Chinese food
and drug safety grows. |
| 17th July, 2007 |
|
|
|
More Chinese companies investing in East Asia: MOFCOM
|
| China's outbound investment has surged by more than 71.3%
per annum over the last three years, Commerce Vice
Minister Liao Xiaoqi said at the Third East Asia
Investment Forum on overseas development strategies for
Chinese enterprises. |
| 17th July, 2007 |
|
|
|
China to enact new drug registration procedure
|
| China will approve a new procedure for managing the
registration of all drugs on October 1, 2007. |
| 17th July, 2007 |
|
|
|
China to set up centers to fight electronic pollution
|
| The Ministry of Information (MII) has announced China will
set up three centers to combat electronic pollution under
the electronic research institutes the MII supervises. The
three centers will be responsible for testing electronic
products and conducting research on standards, energy
saving, product recycling and disposal. |
| 17th July, 2007 |
|
|
|
U.K. Co appointed temporary power supplier for 2008 Games
|
| The organizing committee of the Beijing Olympic Games says
it has appointed AGK.L, a UK-based electric power
equipment company, as a temporary power supplier for the
games. |
| 16th July, 2007 |
|
|
|
China plans large-scale TD-SCDMA deployment in 4Q 2007
|
| TD-SCDMA Industry Alliance Secretary-General Yang Ye said
large-scale deployment of the trial TD-SCDNA network will
begin in the fourth quarter of 2007. |
| 16th July, 2007 |
|
|
|
Electricity giants fight for ultra-high voltage market
|
| Domestic and foreign electric facility manufacturers have
started scrambling for a share in the ultra-high voltage
(UHV) market, worth more than RMB3b. |
| 16th July, 2007 |
|
|
|
U.S. movie companies sue Shanghai dealer for piracy
|
| On July 12, the Shanghai No. 1 Intermediate People's court
began trying a case seven big U.S. movie production
companies filed against Chen Li and company for infringing
IPR by selling pirated products. |
| 16th July, 2007 |
|
|
|
Digital TV trials start in eight cities
|
| Digital TV service trials have started in eight Chinese
cities: Beijing Shanghai, Tianjin, Qinhuangdao, Qingdao,
Shenyang, Shenzhen and Guangzhou. |
| 13th July, 2007 |
|
|
|
"Technical barriers" cost Chinese exporters: MOFCOM
|
| On July 11, China said the "technical barriers" imposed by
some of its trading partners cost exporters $75.8b last
year. |
| 13th July, 2007 |
|
|
|
Tibet bans gold, mercury, arsenic and peat mining
|
| Amid a heated debate over environment and energy
conservation, the local government of the Tibet Autonomous
Region (TAR) has decided to ban gold, mercury, arsenic and
peat mining. |
| 13th July, 2007 |
|
|
|
Trade tension between China and the U.S.
|
| Since May 29, five U.S. enterprises have filed anti-
dumping cases against China. The U.S. International Trade
Commission (USITC) has started an investigation. |
| 13th July, 2007 |
|
|
|
China, EU recognize geographical specialities
|
| China and the European Union reached an initial agreement
in Beijing on July 11 to grant geographic indication
status to 10 products from each side. It was the first
time both sides have pursued the "bilateral registration"
of geographic indicators (GIs). |
| 13th July, 2007 |
|
|
|
Anhui, Jiangsu and Henan floods affect 14.67m people
|
| Floods in Henan, Anhui and Jiangsu provinces have affected
more than 14.67 million people and inflicted direct
economic losses of RMB 5.67 billion, according to the
latest figures from the State Flood Control and Drought
Relief Headquarters. |
| 12th July, 2007 |
|
|
|
NDRC approves more mobile handset manufacturers
|
| China's National Development and Reform Commission (NDRC)
has granted approval for four more enterprises to
manufacture handsets, taking the total number of mobile
phone manufacturers to more than 80 in China. |
| 12th July, 2007 |
|
|
|
Open skies deal inked with US
|
| Commercial passenger flights between the U.S. and eastern
China are expected to more than double by 2012 after the
two countries signed an aviation agreement on Monday, July
9. |
| 12th July, 2007 |
|
|
|
Senior official: 99% of food exports safe
|
| A senior official from China's food quality watchdog
declared around 99% of the food exports are safe at a
press conference in Beijing. |
| 12th July, 2007 |
|
|
|
Regulators restrict state sales of stocks
|
| State shareholders of listed companies can dispose of no
more than 5% of their total holdings in any period of
three consecutive accounting years, the China State Asset
Supervision and Administration Commission (SASAC) and the
China Securities Regulatory Commission (CSRC) said in a
statement Friday, July 6. |
| 11th July, 2007 |
|
|
|
China seeks uranium deals with Australia
|
| China is seeking uranium from countries like Australia
though it has enough reserves to develop its nuclear power
industry up to 2020. |
| 11th July, 2007 |
|
|
|
Switzerland grants China market-economy status
|
| The Ministry of Commerce said Switzerland has granted
China market-economy status and agreed to evaluate the
feasibility of setting up a Sino-Swiss free trade area. |
| 11th July, 2007 |
|
|
|
Big oil retailers accumulate secret stockpile
|
| China's top oil refiners are considering instituting a
price hike for refined oil due to higher international oil
prices. |
| 11th July, 2007 |
|
|
|
China further opens inter-bank lending market
|
| Non-banking financial organizations engaged in insurance,
trust, financial or insurance assets management, financial
leasing and auto financing will be allowed to borrow and
lend money on China's interbank market for the first time
from August 6. |
| 11th July, 2007 |
|
|
|
China scraps rules encouraging foreign exchange inflows
|
| China has scrapped a set of rules that provided incentives
for exporters to bring home as much foreign currency as
possible, signifying another step in the government's
efforts to ease capital inflows. |
| 11th July, 2007 |
|
|
|
Qualcomm awaits China's 3G license issuance
|
| US-based wireless communications developer Qualcomm is
awaiting the announcement of the preferred standard for
third generation (3G) phones on the Chinese mainland
before starting discussions on royalty fees. |
| 11th July, 2007 |
|
|
|
Monetary policies aim to control CPI
|
| The People's Bank of China recently vowed to continue
applying consistent and moderate monetary tightening
policies for the rest of the year. But Central Bank Deputy
Governor Wu Xiaoling says these policies are not directly
aimed at cooling the stock or property markets. |
| 10th July, 2007 |
|
|
|
Beijing issues new regulation on restaurant service
|
| The Beijing Municipal Industrial and Commercial Bureau
will start collecting public comments on a new regulation
on restaurant service from July 10. Under the new
regulation, customers can refuse to pay their bill if they
are unable to obtain an official invoice receipt from the
restaurant. |
| 10th July, 2007 |
|
|
|
Steel producers plan cooperation with shipping companies
|
| Last Friday (July 6), the China Steel and Iron Industry
Association held a conference in Beijing to discuss the
shipping price of imported iron ore. Steel producers plan
to cooperate with shipping companies in an attempt to
control shipping costs. |
| 10th July, 2007 |
|
|
|
Lake Taihu clean-up targets polluting factories
|
| Jiangsu province leaders plan to close more than 2,000
polluting factories before the end of 2008 as part of
their efforts to clean Taihu Lake. |
| 10th July, 2007 |
|
|
|
Food hygiene laws alone cannot guarantee safety
|
| The Beijing municipal government and the Guangdong
provincial government are drafting food safety
legislation, but experts warn that laws alone cannot fully
protect food safety. |
| 10th July, 2007 |
|
|
|
Banking and court information systems to be connected
|
| The Supreme People's Court of China and the People's Bank
of China discussed how to connect their information
systems by the end of 2007 at a work conference attended
by high court presidents held in Beijing from July 4 to 5. |
| 9th July, 2007 |
|
|
|
Italy's Intesa Sanpaolo to buy stake in Qingdao bank
|
| Italian bank Intesa Sanpaolo SpA plans to sign an
agreement next week to purchase a 19.9% stake in Qingdao
City Commercial Bank of China. |
| 9th July, 2007 |
|
|
|
Toothpaste exports fall due to diethylene glycol controversy
|
| Toothpaste exports from Guangdong province have dropped
28.9% since April due to the controversy generated by the
diethylene glycol incident. |
| 9th July, 2007 |
|
|
|
Nestle opens milk powder factory in China
|
| On July 5, Swiss food and beverage giant Nestle
inaugurated a new milk product factory in north China's
Inner Mongolia Autonomous Region in a move to take bigger
share of the Chinese market. |
| 9th July, 2007 |
|
|
|
Sinopec chairman resigns amid speculation of graft
|
| China Petroleum & Chemical Corp (Sinopec) Chairman Chen
Tonghai resigned for unspecified personal reasons. The
State-Owned Assets Supervision and Administration
Commission announced Su Shulin, former vice president of
China National Petroleum, will succeed Chen as the new
head of the Sinopec Group, Asia's largest refiner. |
| 9th July, 2007 |
|
|
|
New regulation on board directors in futures companies
|
| On July 5, the China Securities Regulatory Commission
published a regulation on its official website about the
management of board directors and executives in futures
companies. |
| 9th July, 2007 |
|
|
|
Deal on sending Russian oil to China through Mongolia close
|
| Reversing an earlier decision, Russia's Rosneft has
apparently agreed to transport 200,000 metric tons of oil
through Mongolia to China every month. |
| 6th July, 2007 |
|
|
|
Chinese company says FDA gives warning about fake seafood products
|
| China's General Administration of Quality Supervision,
Inspection and Quarantine has tested 114 products
manufactured by more than 6,362 companies and found 19.1%
of them are substandard. |
| 6th July, 2007 |
|
|
|
SAFE will give QDIIs more investment quotas
|
| China's securities watchdog released a document that
authorizes Qualified Domestic Institutional Investors
(QDII), including fund management companies, securities
companies and custody banks, to invest in overseas
securities businesses. |
| 6th July, 2007 |
|
|
|
Ministry of Finance issues first lot of special bonds
|
| The Ministry of Finance will soon start selling RMB 500
billion in bonds, the first lot of the planned RMB 1.55
trillion in special bonds. |
| 6th July, 2007 |
|
|
|
China-made cars to debut on U.S. market
|
| On July 4, Chrysler CEO Tom LaSorda signed a strategic
cooperative agreement with Chery in Beijing. Under the
agreement, Chrysler will select products developed by
Chery for partial upgrade. |
| 6th July, 2007 |
|
|
|
Chinese government urged to improve handling of taxpayer money
|
| Chinese central authorities on Wednesday, July 4, asked
government departments to clean up their financial
accounts and improve the handling of taxpayer money. |
| 6th July, 2007 |
|
|
|
Chinese hospitals banned from carrying out organ transplants for foreigners without permission
|
| Chinese medical institutes are banned from carrying out
human organ transplants for foreigners without permission
from health authorities, according to a statement issued
by the Ministry of Health. |
| 5th July, 2007 |
|
|
|
Central bank vows to tighten policy to rein in economy
|
| China will keep tightening its monetary policy to prevent
the economy from overheatingand will stick to its long-
standing policy of gradual yuan appreciation, the central
bank said on Tuesday, July 3. |
| 5th July, 2007 |
|
|
|
China adopts stricter measures to curb water pollution
|
| The State Environment Protection Administration (SEPA) has
decided not to approve any new industrial projects in six
cities, two counties and five industrial parks in the
Yangtze, Yellow, Huaihe and Haihe river basins because
they are already too polluted. |
| 5th July, 2007 |
|
|
|
Shanghai hospitals act against corrupt suppliers
|
| Shanghai hospitals have been ordered to stop buying
products for two years from pharmaceutical manufacturers
or sales companies who offer them bribes, under a
regulation issued by the Shanghai Health Bureau on July 4. |
| 5th July, 2007 |
|
|
|
Profits in building materials industry up 61% in first five months of 2007
|
| On July 2, the National Development and Reform Commission
issued a report showing the first five months of 2007
brought a total profit of RMB25.24b in China's building
materials industry, up 61.8% from 2006. |
| 5th July, 2007 |
|
|
|
State IV standard to be implemented in Beijing on January 1, 2008
|
| The Beijing Municipal Bureau of Environmental Protection
says the China IV emissions standard will be effective in
Beijing starting January 1, 2008. |
| 5th July, 2007 |
|
|
|
Survey: nearly 80% of Chinese executives lack green strategy
|
| While the majority of senior executives from China (86%)
closely monitor the issue of global warming, most do not
have a defined energy strategy to deal with it (77%),
according to a new global survey released by Hill &
Knowlton. |
| 5th July, 2007 |
|
|
|
Intellectual Property Rights Commissioner: U.S. should withdraw WTO cases against China
|
| Intellectual Property Rights Commissioner Tian Lipu in an
interview in Beijing on July 3 said the U.S. should
withdraw the two WTO cases it has filed against China. |
| 5th July, 2007 |
|
|
|
China and Sweden jointly invest RMB60m in 4G research
|
| At the FuTURE Mobile Communications Forum, the Ministry of
Science and Technology signed an agreement with the
government of Sweden. |
| 4th July, 2007 |
|
|
|
Labor law "will not hurt investment environment"
|
| The newly approved Labor Contract Law will not undermine
the investment environment although it will better protect
workers' interests and rights, China's top trade union
body said yesterday on July 2. Liu Jichen, director of the
law department at the All-China Federation of Trade
Unions, denied that the law - which comes into effect on
January 1 next year - is biased toward employees. |
| 4th July, 2007 |
|
|
|
Officials who have traded power for money will face severe punishment
|
| China's disciplinary watchdog urged officials who have
traded power for money to confess their misconduct before
the end of June or else face severe punishment when their
wrongdoings are discovered. |
| 4th July, 2007 |
|
|
|
China plans to close factories with high energy consumption, low production capacity
|
| The National Development and Reform Commission (NDRC)
issued the General Work Plan for Energy Conservation and
Pollutant Discharge Reduction on June 3. |
| 4th July, 2007 |
|
|
|
NDRC starts national implementation of China III fuel standard
|
| The State Environmental Protection Administration (SEPA)
says nation-wide implementation of the China III fuel
standard will start on July 1. |
| 3rd July, 2007 |
|
|
|
Chinese companies in Top 50 Most Competitive Companies
|
| Twenty-two Chinese enterprises are listed in the "Top 50
Most Competitive Enterprises in the Global Market of China
2007", published by Global Entrepreneur magazine and
international strategic consulting company Rolandberger. |
| 3rd July, 2007 |
|
|
|
Fujian's collectively-owned forestry property rights system reform
|
| China will push forward the reform of its forestry system,
which involves land collectively owned by local
governments and farmers, to facilitate development,
environmental protection and provide more benefits to
farmers. |
| 3rd July, 2007 |
|
|
|
China to launch second national land survey in July
|
| The State Council says China will launch its second
national land survey on July 1 to obtain up-to-date and
accurate land data for policy making. |
| 3rd July, 2007 |
|
|
|
College students have lower salary expectations
|
| The China HR website, Guanghua School of Management at
Peking University and Economic Observer jointly conducted
a survey of 49,700 college students from 650 colleges in
China. |
| 2nd July, 2007 |
|
|
|
New circular on disposal of government assets
|
| The Ministry of Finance issued a circular about disposing
of central government assets on June 28. It says central
government assets valued at more than RMB 8 million can
not be disposed of privately. |
| 2nd July, 2007 |
|
|
|
Beijing to launch air protection trial in August
|
| On June 24, Tang Xiaoyan, an air pollution expert from the
Chinese Academy of Engineering, said Beijing will launch
an air protection trial in August to help it meet national
air standards before it hosts the Olympics. |
| 2nd July, 2007 |
|
|
|
NDRC increases the investment in oil storage projects by 28.5%
|
| On June 27, National Audit Office Chief Li Jinhua said in
a report that the State Development and Reform Commission
(NDRC) increased investment in oil storage projects by
28.5%, but did not report the change to the State Council. |
| 29th June, 2007 |
|
|
|
National audit report reveals billions of yuan misused from public funds
|
| Twenty-five government departments, including China's top
planning body, misused RMB 2.75 billion from fiscal funds
and other special funds last year, National Audit Office
Chief Li Jinhua said on June 27. |
| 29th June, 2007 |
|
|
|
US-China cooperation needs "grassroot trade"
|
| The U.S.-China Business Matchmaking Conference (China West)
2007 opened in Chongqing on June 27. |
| 29th June, 2007 |
|
|
|
China considers additional rules to curb exports
|
| On June 27, Wang Xiaohua, vice director of the Finance
Ministry's Taxation Department, said China's existing plan
to cut export tax rebates on a broad range of products
will only go part of the way towards reducing the
country's large trade surplus. |
| 29th June, 2007 |
|
|
|
China profits from Blackstone IPO
|
| China has emerged as one of the big winners in
Blackstone's "successful but muted" IPO. The Chinese
government profited by USD 550 million on its stake on the
first day of trading. |
| 29th June, 2007 |
|
|
|
World's longest sea bridge completed in Hangzhou Bay
|
| The two ends of the world's longest sea bridge were
connected in Hangzhou Bay in June 26. |
| 28th June, 2007 |
|
|
|
Outlook bright for bioindustry in China
|
| The bioeconomy in China will develop dynamically and reach
new heights in terms of output in the coming years, the
country's science and technology chief said on June 26. |
| 28th June, 2007 |
|
|
|
China to increase sewage treatment fees: NDRC
|
| China plans to significantly increase charges for the
release of pollutants and effluents, said Bi Jingquan,
vice-minister of the National Development and Reform
Commission (NDRC). |
| 28th June, 2007 |
|
|
|
Tax breaks to encourage vessels to register in China
|
| On June 26, China announced a new policy that aims to
encourage vessels registered overseas to re-register at
home by offering exemptions on tariffs and import value-
added taxes. |
| 28th June, 2007 |
|
|
|
China, EU nod to talks on trade rules
|
| On June 25, the EU Ambassador to China Serge Abou in
Beijing said China and the EU will hold talks on textiles
and steel in July. |
| 27th June, 2007 |
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Tax rebate cuts worry Chinese exporters
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| Chinese exporters say they are worried about their future
after China on June 19 announced it will cut tax rebates
on exports of clothes, shoes and other goods deemed too
energy-intensive or polluting. |
| 27th June, 2007 |
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SFDA launches rules on naming of health foods
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| The State Food and Drug Administration (SFDA) has released
a trial set of rules on naming health foods in China.
Under the rules, health foods will not be allowed to make
exaggerated claims about their effects or have names that
are too long, too confusing or "feudal". |
| 27th June, 2007 |
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Inflation will be around 3% in China in 2007
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| A top central bank official on June 24 said China's
inflation rate will be around 3% this year, adding that
the government is keen for the country's real interest
rates to remain positive. |
| 27th June, 2007 |
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China to offer pig farmers subsidies and insurance
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| China will offer pig farmers agricultural subsidies and
insurance in a bid to curb the recent surge in pork prices. |
| 26th June, 2007 |
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China 'regrets' new IMF guidelines
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| China's representative to the International Monetary Fund
says he "regrets" the changes to the fund's currency
surveillance guidelines that were adopted this month
despite objections from Beijing and other members. |
| 26th June, 2007 |
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Chinese enterprises seek German acquisitions
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| More than 600 Chinese enterprises have invested in Germany
and half of them have been successful. Many more
enterprises are planning to acquire German enterprises. |
| 26th June, 2007 |
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Draft anti-monopoly law provides national security checks
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| China's top legislature has read for the second time the
draft anti-monopoly law, which will require regulators to
check whether foreign purchases of Chinese companies have
an impact on national security. |
| 26th June, 2007 |
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China seeks public opinion on new product packaging standard
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| The National Institute of Standardization has started
collecting public opinions on a new national standard to
combat excessive packaging on products. The standard will
be compulsory in the future. |
| 25th June, 2007 |
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Watchdog bans ads on two TV channels in China
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| China's television watchdog has stopped two TV stations
from screening commercials on two channels after they
ignored several warnings telling them to stop screening
ads for "health" products and shopping programs that
violate advertising rules. |
| 25th June, 2007 |
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Hunan Greatdreams, Sunchime and Gold Eagle to merge
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| On June 21, Wang Hong, chairman of Hunan Greatdreams
Cartoon Media, said his company will merge with Hunan
Sunchime Cartoon Group and Hunan Gold Eagle Cartoon. Once
the merger is complete, more than one third of China's
animation productions will be produced in Hunan province. |
| 25th June, 2007 |
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Chinese toothpaste blocked on overseas market; "Chinese food threat" theory keeps spreading
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| Singaporean Health Authorities and Hong Kong Customs have
followed the US FDA and issued warnings that toothpaste
made in China contains diethylene glycol, an ingredient
banned in many countries. |
| 25th June, 2007 |
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China to spend RMB100b on land consolidation per year
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| China will spend RMB100b on land consolidation per year, a
senior official with the Ministry of Land and Resources
(MLR) said on June 19. |
| 22nd June, 2007 |
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China raises its reliance on imported crude oil
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| On June 20, Dai Yande, the deputy director of the Energy
Research Institute (ERI) under the National Development
and Reform Commission (NDRC) said China's crude-oil
imports recently hit a record high, driving speculation
that 50% of China's crude oil will soon come from foreign
sources. |
| 22nd June, 2007 |
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Three barriers to Traditional Chinese Medicine entering EU
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| At the first Cooperation Forum between China and the EU on
June 20, James Cameron, business development director of
UK-based Maidisi International, said three barriers must
be bridged before Traditional Chinese Medicine can enter
the EU market. |
| 22nd June, 2007 |
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China says "go easy" on agriculture issues as WTO chief visits China
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| China on Tuesday (June 19) called for less pressure on
agriculture issues as WorldTradeOrganization (WTO)
Director-General Pascal Lamy was visiting Beijing in an
effort to revive the stalled Doha trade talks. |
| 22nd June, 2007 |
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China's Radio, Film and TV industry earned over RMB100b in 2006
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| On June 19, the research center of the State
Administration of Radio, Film, and Television issued
its "blue book" for 2007. The total income of China's
radio, film and TV industry was RMB109.9b in 2006, up
RMB20b over 2005. |
| 21st June, 2007 |
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Google Inc receives China Internet Content Provider License
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| The Ministry of Information Industry has given Google an
ICP license. Google plans to reposition its focus on its
Adwords and Adsence R&D becacuse the company has made good
progress on the web search service. |
| 21st June, 2007 |
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China State Investment Co may be set up in September
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| The Ministry of Finance plans to issue special treasury
bonds equivalent to $200b to help establish China's State
Investment Company in September. |
| 21st June, 2007 |
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China to cut export rebates on 2,831 products
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| On June 19, China's MinistryofFinance announced it would
cut or eliminate export tax rebates on 2,831 commodities,
around 37% of the total number of items listed in the
customs tax regulations. |
| 21st June, 2007 |
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U.S. curbs on high-tech exports will hurt trade: Ministry of Commerce
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| On June 19, a Chinese Ministry of Commerce spokesman
criticized the revised U.S. regulation on dual-use high-
tech exports to China, which tightens controls on high
tech exports to China. |
| 21st June, 2007 |
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Wahaha files for Danone dispute arbitration
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| Chinese beverage giant Wahaha Group says the Hangzhou
Arbitration Committeehas accepted the company's
application for arbitration over a trademark dispute with
its French partner Danone. |
| 20th June, 2007 |
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New OECD report on China's pension system
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| The Organization for Economic Cooperation and Development
(OECD) published a report about China's pension system on
June 18. |
| 20th June, 2007 |
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China to ban production, sale, export and import of home appliances with CFCs
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| China will ban production of home appliances that use CFC
refrigerants from July 1. The sale, import and export of
these home appliances will be banned from September 1. |
| 20th June, 2007 |
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U.S. to relax controls on high-tech product exports to China
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| The Commerce Department's Bureau of Industry and Security
(BIS) announced updates to the US dual-use export
licensing policy for certain high-technology exports to
China. |
| 20th June, 2007 |
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Trade body calls U.S. anti-dumping and anti-subsidy charges
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| On June 18, a Chinese trade body said the anti-dumping and
anti-subsidy charges filed against Chinese steel products
in the U.S. amounts to trade protectionism. |
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