China News Direct

 
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Financial Turmoil No Show in China's Tourism
(Dec 28, 2011) The tourism industry brought China an income slightly over RMB6 trillion during the 11th Five-year Plan (2006-2010) period, showing an annual growth of 15.3%. The State Council issued a tourism industry report today, highlighting that the country received a total of 9.37 billion tourists and reaped a total income of ...
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Taobao Earns Record-breaking RMB4.3Bn in One Day
(Dec 15, 2011) China's e-commerce giant Taobao.com registered record-breaking transactions of RMB4.3 billion on the day of December 12 when it staged a seasonal promotional and discount sale activity, according to John Spelich, spokesperson of Alibaba Group, the parent company of Taobao. The magic of online sale was once again performed in China ...
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CASS Expert View on Indirect Taxes and Prices
(Dec 14, 2011) Tax expert at the Chinese Academy of Social Sciences (CASS) calls for lowering indirect taxes in a bid to minimize the impact of indirect taxes on price levels. In these years, China has tax incomes growing even faster than economic growths as more Chinese people are adopting to paying taxes, ...
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China To Regulate Internet Shopping
(Dec 14, 2011) A new administrative measure about internet shopping will go into legislation in China next year as the government sees the need to regulate a market which is growing at a pace of 100% year after year. In an interview with China National Radio (CNR), Chang Xiao-cun, Secretary of Market Order ...
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China's Railway Too Big to Fail Passengers
(Dec 14, 2011) The Ministry of Railway of China is already feeling the pressure to do a good job in taking hundreds of millions of passengers home this Lunar New Year traveling season which spans as many as 40 days from early January to mid-February. The ministry estimates that about 235 million passengers ...
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Farmers Need Safety Net in China' CPI Swing
(Dec 13, 2011) Prices of consumer goods may climb slightly in China this December and January 2012 due to seasonal factors and the holidays, requiring local governments nationwide to take detailed accounts of price movements of products and to step up the work to dispatch subsidies to low-income groups. China's national CPI ended ...
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Central Officials' Spending Checked Through Credit Cards
(Dec 13, 2011) Spending by central Chinese government officials on official reception, traveling, property management and even public utilities will be revealed next year when 16 spending items are required to be settled through official credit cards, a move made by the central government to improve financial management and track spending of government ...
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Beijing Sources Winter Vegetables from Eight Provinces
(Dec 12, 2011) Local governments in eight provinces and regions from Shandong province in the northeast to Hainan Island in the south will stage a joint action to ensure adequate supply of fresh vegetables to the markets in Beijing during this winter. From December to March 15, 2012, the eight local governments of ...
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CASS: Investment and Consumption Lead China's Economy
(Dec 12, 2011) The Chinese Academy of Social Sciences (CASS) sees slowing economic growths in China in 2011 and 2012, but in its view, the economy will keep running within a reasonable range. Investment and consumption will continue to lead economic growth in China next year although a few percentage points of growth ...
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Bank of East Asia (China) the First to Issues RMB IC Cards
(Dec 09, 2011) In Shanghai, Bank of East Asia (China) issued new RMB IC credit cards today, becoming the first foreign-invested bank to do so. The IC cards are commemorative cards issued jointly with China UnionPay. The cards are embedded with one of the most advanced PBOC 2.0 chips and are dual-use credit ...
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