China’s H1 industrial profits up 11.4 pct

Chinese industrial businesses saw their profits rise by 11.4 percent year on year in the first half of this year, official data showed on Sunday. Total profits of industrial companies with annual business revenue of more than 20 million yuan (3.2 million U.S. dollars) reached 2.86 trillion yuan, the National Bureau of Statistics (NBS) said […]

Int’l commodity fair opens in Xinjiang’s Kashgar

The 10th Kashgar Central and South Asia Commodity Fair kicked off Sunday in Kashgar, an ancient Silk Road town in northwest China’s Xinjiang Uygur Autonomous Region. As the largest trade event in south Xinjiang, the three-day fair has attracted 1,600 businessmen and delegates of trade and commerce associations, including 446 from six foreign countries, including […]

Foreign investment to Shanghai up 10.9 percent in H1

Shanghai received 9.2 billion U.S. dollars of foreign investment in the first half of 2014, up 10.9 percent from a year earlier, the Shanghai municipal government said Thursday. About half of new foreign-invested projects went to the Shanghai Free Trade Zone. Twelve multinational corporations (MNCs), including Volvo, Zegna and Danone, have set up their regional […]

China’s VAT reform eases taxes by 267.9 bln yuan

China’s value-added tax (VAT) reform has so far resulted in a tax reduction of 267.9 billion yuan (43.56 billion U.S. dollars) for businesses, the State Administration of Taxation (SAT) said Thursday. China’s VAT reform, which was implemented as part of China’s structural tax cuts, has included replacing turnover tax with a VAT in the transportation […]

China considers traditional Chinese medicine legislation

China’s cabinet, the State Council, issued a draft on traditional Chinese medicine (TCM) legislation for public review on Thursday. China will establish a comprehensive TCM medical service system covering both urban and rural areas, the draft said. Local governments above the county level should set up TCM departments in public hospitals and promote TCM service […]

China Telecom gains Xbox One exclusivity

China Telecom will be the exclusive carrier of Microsoft Corp’s video game console Xbox One, the first of its kind to launch in the Chinese mainland this autumn, the Chinese operator announced on Thursday. The console will be sold in China Telecom’s sales outlets from September, the state-owned telecom firm announced at a press conference. […]

British volume of retail sales increases in June

Britain’s retail sales volume in June increased by 3.6 percent compared with June 2013 and by 0.1 percent compared with May 2014, said Office for National Statistics (ONS) on Thursday. In June 2014, all retail sectors recorded sales volume increase year-on-year. The last time this was seen was in March 2012, said ONS. In the […]

China to contribute to new global trade system

China to contribute to new global trade system

China will join in and contribute to the construction of a new global trade system, said Premier Li Keqiang in Beijing on Tuesday. Li also called on the United States to be more open and to create more favorable conditions for the two countries’ deeper cooperation, while meeting a delegation of U.S. business leaders and […]

Taiwan export orders up 10.6 percent in June

Taiwan export orders up 10.6 percent in June

Taiwan’s export orders surged 10.6 percent year on year in June to US$38.82 billion, buoyed by steadily warming global demand and a lower comparison base from last year, according to the Ministry of Economic Affairs July 21. “June marked the fifth consecutive month of growth and the largest percentage gain since December 2012,” said Lin […]

China-ASEAN trade up 4.8 pct in H1

Trade between China and the Association of Southeast Asian Nations (ASEAN) grew 4.8 percent year on year to 220.69 billion U.S. dollars in the first half of the year, according to the Ministry of Commerce (MOC) on Tuesday. Investment between China and ASEAN hit 120 billion U.S. dollars at the end of June this year, […]