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China's policy to restrict leather export pays off2008-3-31 15:41:49
(Xinhua)China exported 113,000 tons of leather in 2007, a decrease of 37.9 percent from the previous year, sources with the General Administration of Customs said on Sunday.The exports were valued at $1.18 billion, down 33.1 percent.Of the total sales, foreign-funded enterprises made up 62 percent, or 70,000 tons, down 38.3 percent.The decline was due largely to government policy to restrict leath
China's economy expected to grow 10.7% in 20082008-3-28 15:53:20
(Xinhua)BEIJING -- China's economy would moderate but remain robust in 2008 with a growth rate of 10.7 percent, providing a cushion against the expected international downturn, according to a forecast issued by the United Nations commission on Thursday."Investment continues to be the main driver of growth, remaining resilient despite government cooling measures and with support fr
China to further develop service industry2008-3-27 16:47:49
(Xinhua)Updated: 2008-03-27 16:41The National Development and Reform Commission (NDRC), China's top economic planner, told Xinhua on Thursday that officials wanted to encourage development of the service industry.Service industry output was 9.6 trillion yuan ($1.37 trillion) in 2007, up 11.4 percent year-on-year.However, the service industry's contribution to gross domestic product (GDP) in 2007 d
Chinese companies see higher profits in 20072008-3-27 16:45:53
(Xinhua)Updated: 2008-03-27 09:55Nearly 40 percent of China's listed companies have released their 2007 annual reports, and 86 percent reported higher net profits.The 578 companies that have reported so far had aggregate net profits of 382.7 billion yuan ($54.5 billion), up 38.39 percent year-on-year, according to Wind Info, a provider of financial data. About 130 companies saw net profits more th
Declining exports to slow China's GDP growth2008-3-25 9:19:34
Declining export growth, notably affected by the U.S. credit crunch, is likely to drag China's GDP growth down to 10.5 percent this year, still above official target of 8 percent, a leading university research paper said on Monday.China's booming exports are likely to see a sharp decline, which will tame the 11.4 percent GDP growth last year to a slower 10.5 percent in 2008, against the backdrop o
China exempts income tax on securities trading2008-3-21 8:44:12
BEIJING -- Chinese has decided not to levy tax on corporate earnings from securities trading at the moment, seen as a move to boost the current gloomy stock market.Income from stock and bonds trading by securities investment funds will be free from enterprise income tax for the time being, said a statement released by the Ministry of Finance and the Administration of Taxation on Wednesday.Me
Chinalco may raise stake in Rio Tinto2008-3-20 8:44:45
Aluminum Corp of China (Chinalco), the nation's biggest aluminum maker, may raise its stake in the London-listed Rio Tinto PLC as part of a larger expansion effort, the China Securities Journal reported on Wednesday.Chinalco would "adhere to the line of acquisitions" and step up efforts to "explore mining assets overseas," the newspaper quoted company general manager Xiao Yaqin

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