Survey Pinpoints Personal Income Tax Evasion

The phenomenon of personal income tax evasion is serious, and income tax is weak in regulating income differences, according to a survey conducted by China Prosperity Supervision Center and CCTV China Economy Report, covering more than 700 citizens in Beijing, Shanghai and Guangzhou.

Bank Deal Enhances Monetary Ties

The central banks of China and the Republic of Korea yesterday signed a US$2 billion currency swap deal which both sides hailed as a move to enhance bilateral cooperation and regional financial stability.

State Council Holds Back State Share Sell-off Plan

The government Sunday announced that it was giving up its plan to sell off massive State holdings in listed companies through the domestic stock market, removing the barrier that has been hindering a market turnaround for the past year.

Forex Rules to Be Eased for Full RMB Convertibility

China will quicken its steps to relax controls on foreign exchange (forex) to finally realize full convertibility of its currency, renminbi (RMB), while at the same time improving its regulatory administration.

Lychee Growers in South China Hit by Price Decrease

Fruit growers in south China have been heavily hit by a sharp lychee price decrease as the yields are expected to be double that of a normal year.

China Levies Anti-dumping Duty on Imported Dichloromethane

China has begun levying an anti-dumping tax on dichloromethane imported from the United Kingdom, the United States, the Netherlands, Germany and the Republic of Korea (ROK), according to a release issued by the Ministry of Foreign Trade and Economic Cooperation (MOFTEC) Thursday.

CAAC Angry Over Cheap Tickets

Cheeky travel agents seeking to boost passenger numbers on internal flights in China are continuing to slash ticket prices - despite warnings of harsh punishment from aviation chiefs.

Investment Growth Propels Chinese Economy

The continued rapid growth of China's economy is being driven by investment as exports and consumption leveled out over the first half of the year. Latest official statistics show that capital investment rocketed 25.8 percent in the first five months, but the growth of retail sales declined from month to month and the consumer price index (CPI) dipped into negatives.

China to Renew Plea for WTO Panel

China is to renew its request to the World Trade Organization (WTO) for an independent panel on the controversial United States steel tariffs -- despite recent US exemption of some products and a ruling on an anti-dumping charge in favor of Chinese steel companies.

Reemployment Model Tells of Business Success

Li Yuqiong who was laid off from a cement plant four years ago is now the owner of a small fast food shop in Tianhe, Guangzhou City in south China's Guangdong Province. She can take home some 4,000 yuan (US$482) in earnings from the small business each month.