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Cuts to taxes, fees will promote growth

To respond to complex domestic and foreign economic situations and further support the healthy and sustainable development of the economy, the Central Committee continues to implement more proactive fiscal policies for tax reduction, aiming to newly cut about 1.3 trillion yuan (US$187.46 billion) in tax and administrative fees in 2018. Read the full story at […]

China unveils measures to support FTZs for deepened reform, innovation

The State Council on Friday released a raft of measures supporting pilot free trade zones to deepen reform and innovation. “Building pilot FTZs was a strategic move by Chinese central authorities to deepen overall reform and widen opening up, and the country must further capitalize on the role of pilot zones as experimental fields of […]

China to ease tax burdens for private enterprises

The burden of taxes and fees on private enterprises will be further eased, according to a guideline recently released by the State Administration of Taxation (SAT) on supporting the private sector. The guideline outlined 26 detailed measures to facilitate the development of private businesses, including advancing substantial tax cuts, especially the reduction of value-added taxes, […]

Commercial vehicles carried by China-Europe freight train finish customs clearance process

The first batch of Mercedes-Benz cars were unloaded from a carriage of a new China-Europe freight train carrying commercial vehicles, the first of its kind, in Chongqing, southwest China. The customs clearance process of those commercial vehicles was finished on Monday. The train, carrying 112 Mercedes-Benz cars, started its trip in Bremen, Germany on Oct. […]

China’s export container transport index edges down in October

China’s container transport for export purposes lost steam in October as the traditional peak season neared its end, according to data from the Shanghai Shipping Exchange. The average China Export Containerized Freight Index stood at 834.55 points in October, down 2.3 percent from a month earlier, the exchange said in a statement. Read the full […]

Alipay inks 8-year sponsorship deal with Union of European Football Association

Alipay will become the Official Global Payment Partner, Official Global Digital Wallet and the Official Global FinTech Partner for all men’s national team events, including UEFA EURO 2020 and UEFA EURO 2024. Read the full story at https://www.shine.cn/biz/tech/1811104922/ SOURCE: SHINE (3)

China’s Auto sales continue to shrink in October

China’s auto sales fell for the fourth straight month in October, an industry group reported yesterday. Total vehicle sales shrank 11.7 percent from a year earlier to 2.38 million last month in the world’s biggest auto market, according to data released by the China Association of Automobile Manufacturers. Read the full story at https://www.shine.cn/biz/auto/1811104931/ SOURCE: […]

No sign of Singles Day fatigue as sales top US$30b

The 10th anniversary of Singles Day was celebrated with a bang yesterday on Alibaba’s Tmall site and other e-commerce platforms, showing once again that consumer spending in China remains a juggernaut for the economy. E-commerce giant Alibaba said its B2C site Tmall’s whole-day sales totaled 213.5 billion yuan (US$30.7 billion), a year-on-year jump of 26.9 […]

At China expo, sellers, buyers speak universal language of business

For days, under the same roof of an exhibition space as large as about 40 football pitches, sellers and buyers from all walks of life are negotiating trade deals in the universal language of business, following the principle of fairness and good faith. Besides multinationals that have been doing business in China for years, there […]

Xi to face world tired of empty promises at China trade fair

After Donald Trump won the US presidency with a pledge to put “America First,” Chinese counterpart Xi Jinping quickly moved to present himself as a champion of globalisation. Nearly two years later, Xi is locked in a trade war with Trump and hasn’t succeeded in persuading the world that he’s serious about opening the economy […]

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