China News Direct

 
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China Inclines To Keep GDP and Income Growth At 7%
(Dec 31, 2010) China inclines to keep the average yearly growth of residents' incomes at 7% in line with its GDP growth during the 12th Five-year Plan (2011-2015). The Chinese government intends to keep economic growth and residents' incomes about the same during the next five years, although local governments are planning higher ...
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China Manages To Fill 11Mn Jobs a Year
(Dec 31, 2010) An average of 11.4 million people found work in China each year during the 11th Five-year Plan (2006-2010), keeping unemployment rate in within 4.3%. China's Ministry of Human Resources and Social Security (MOHRSS) says a total of 57 million new jobs were filled in the five years of 11th Five-year ...
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Hong Kong Post Makes Direct Marketing Easy In China
(Dec 31, 2010) Hong Kong Post will expand its cross border direct mail delivery services to more cities in China after teaming up with China Post. The extended service covers nine major Chinese cities: Beijing, Shanghai, Nanjing, Guangzhou, Hangzhou, Chongqing, Chengdu, Harbin and Dalian. Before the extension, Hong Kong Post has offered such ...
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PBOC Survey: Let Interest Rate Float
(Dec 31, 2010) China's monetary policy will need to incorporate both domestic and international factors and to consider consumer prices and asset prices, according to Cheng Song-cheng, head of survey and statistics of People's Bank of China (PBOC). In a newly issued article, Cheng calls on commercializing interest rates and letting certain financial ...
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Big-ticket Projects Lift Tianjin Binhai's GDP
(Dec 29, 2010) A focus on big-ticket industry and resource projects has lifted the GDP value of Tianjin Binhai New Area above that of its counterpart - Pudong, Shanghai. In the first half of 2010, Tianjin Binhai produced a GDP value of RMB223.13 billion while Pudong RMB222.66 billion, and in the first three ...
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China Needs Structural Tax Change To Fuel Growth
(Dec 28, 2010) China needs a structural change in taxation as its high-speed economic growth and continual urge for improvement in living standard will pressure fiscal balance. Minister of Finance Xie Xu-ren reported in a national fiscal work conference in Beijing on December 27 that a structural change in the country's tax system ...
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More Tax Changes in 12th Five-Year Plan
(Dec 28, 2010) China will make a range of adjustment on taxes over the 12th Five-year Plan period (2011-2015) so as to give industrial upgrade and restructuring a helping hand. Ministry of Finance (MOF) inclines to enlarge the scope of value-added tax, scale down the sales tax, adjust the structure of consumption tax ...
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Central Enterprises Net Profits Jump 50%
(Dec 28, 2010) Central government-owned enterprises in China are expected to earn profits of over RMB1 trillion and deliver economic value-added of RMB300 billion in 2010. From January to November, central government-owned enterprises reaped sales turnover of RMB14.9 trillion, representing an increase of 34.7%. They earned net profit of RMB802.26 billion, a comparable ...
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Trustbridge Partners Invests RMB100Mn In Elderly Care
(Dec 27, 2010) Private equity group Trustbridge Partners will get its hands on the pension and elderly care industry in China. Trustbridge Partners, formed in 2006, will invest RMB100 million in Shanghai Cherish Yearn that provides retirement home and related services. According to the founder of Trustbridge Partners, Li Shu-jun, the Chinese pension ...
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China Sets Industrial Value-added Growth at 11% for 2011
(Dec 27, 2010) Ministry of Industry and Information Technology (MIIT) announced new goals of industrial development and named five strategies to boost strategic emerging industries. In 2011, scaled industrial enterprises, i.e. those with an annual sale turnover of RMB5 million, will need to target an industrial value-added growth of 11%, and a 19% ...
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