The textile industry may see tax relief totaling 16.1 billion yuan ($2.36 billion) next year, according to an industry expert, thanks to the upcoming value-added tax (VAT) reform that to be implemented at the beginning of 2009.
Wang Qianjin, chief editor of webtextiles.com gave his prediction in an interview with the Shanghai Securities News published on [...]
HONG Kong’s economy entered its first recession since the outbreak of SARS in 2003 as the global financial crisis cut exports and spending cooled, forcing the government to lower its full-year growth forecast.
Gross domestic product shrank a seasonally adjusted 0.5 percent in the third quarter from the previous three months, the government said yesterday. The [...]
Venture capital investment has become an essential tool to promote China’s high-tech industries, especially during the global financial turmoil.
Tags: investment, IPO
The Chinese government’s 4-trillion-yuan stimulus package has come as a breather for many multinational companies who are trying to weather the current economic storm.
The government’s announcement of the huge investment plan on Sunday is expected to provide additional opportunities for foreign investors in China.
Tags: economy, investment
China’s broad money supply grew 15 percent in October, the slowest pace in three years, a sign economists said shows the economy is in sharp slowdown.
The growth of M2 - the broadest measure, which includes cash and all deposits, fell from September’s 15.3 percent to 45.31 trillion yuan at the end of October, central bank [...]
Microsoft Corp, the world’s top manufacturer of software for personal and business computing, is reportedly planning to invest US$1 billion in its R&D facilities in China over the next three years despite the weary economic situation worldwide, sources reported, citing an unnamed sources, as saying.
However, there is no official comment on this expansion plan. The [...]
