chinese machinary      chinese equipment      
Main page | News | Guestbook | Contact us
Русская версия

Food products
Building materials
Leisure and garden inventory
Medicine and public health
Gas and gas equipment
Oil equipment
Chinese Silk
Underwear, T-shirts
Various production line by Customers order
Silver coins

Contact us
Tel: +86 13903612274

News from China
World Bank praises Shanghai's business reforms, opening-up
2nd November 2018

 The World Bank has given a strong thumbs-up on Shanghai’s progress in cutting red tape and introducing reforms to improve the business environment over the past year.

The findings in the bank’s latest global assessment are of great significance and further highlight the soft power of Shanghai in the competition among global cities, the Shanghai Development and Reform Commission said Thursday.
“A more international, law-based and convenient business environment is of great importance in boosting market confidence,” said a commission spokesman. “This confidence comes from the predictability for larger enterprises with respect to the freedom of operation, as well as the effectiveness of the deepening the administrative reform of the government in streamlining administration, delegating power, strengthening regulation and improving service.”
China now ranks 46 out of the 190 countries and regions ranked in the World Bank report released late Wednesday, up from 78 last year. As China’s business capital, the bank gives Shanghai a weighting of 55 percent and Beijing 45 percent.
It says Shanghai has made remarkable progress in developing an international, law-based and convenient business environment.
The report says the number of procedures required to start a business in the city has been cut to four from seven and the processing time shortened from 22 days to nine.
The steps for a business to obtain a permanent electricity connection for a newly constructed warehouse has been reduced from five to three, the average time required slashed from 145 days to 34, and the cost for small and micro users cut from 192,000 yuan (US$27,641) to nothing. 
Procedures for construction permits have been reduced from 23 to 19, the processing time from 279 days to 169.5, and the cost from nearly 200,000 yuan to 70,000.
From January to September this year, a total of 307,811 market entities were set up in the city, up 13.9 percent year on year. On average 1,333.5 new enterprises were set up each day, an increase of 12.97 percent year on year.
And the number of new foreign-funded projects, contractual foreign investment and actual foreign capital all grew in the first nine months.
Since entering the new era, the city has thoroughly deepened its reform and opening-up and has scored well in many internationally recognized evaluations.
Shanghai ranked ninth in the Globalization and World Cities Research Network survey, fifth in Long Finance’s Global Financial Centres Index, and fourth in the Global international Shipping Center Index.
“The business environment can always be better,” the commission said.
For the next step, Shanghai will aim to further develop the business environment to be the most convenient for trade and investment, to have the highest administrative efficiency, the best regulated services and management and a perfectly optimized legal system.
Source: Shanghai Daily, November 2, 2018
Advance AI to spur economy, Xi urges
1st November 2018

 Xi Jinping, general secretary of the Communist Party of China Central Committee, on Wednesday called for stepping up efforts to develop the new generation of artificial intelligence technology to inject a fresh driving force into the country's high-quality economic growth.

Xi, also president, made the call while presiding over a group study session of the Political Bureau of the CPC Central Committee on the development of AI.
Xi stressed that China is in urgent need of major technological innovation such as the new generation of AI as its economy has been transitioning from rapid growth to high-quality development-a pivotal stage for changing the economic growth model, improving economic structure and fostering new growth drivers.
AI should play an important role in the reform for better quality, higher efficiency and more robust drivers of growth, Xi said.
He called for reforms of various industries by taking advantage of AI technologies and fostering new growth areas and drivers of growth in medium to high-end consumption, innovation-driven growth, the green and low-carbon economy, sharing economy, modern supply chains and human capital services.
Xi hailed AI as a key driving force for a new round of technological revolution and industrial reform.
Highlighting the significance of speeding up AI development, Xi said more solid and coordinated efforts should be made to promote integration of the technology with socioeconomic growth, and advance healthy development of the new generation of AI.
AI is emerging as an important factor to profoundly influence economic growth, social progress and the international political and economic landscape, he said.
In developing AI technologies, Xi said, the emphasis should be on strengthening innovations and creativity, and the main direction for all-out efforts should be having a good command of key core technologies.
He called for more input in theoretical research in AI development to ensure the country takes the lead in the field and commands cutting-edge technologies.
Application of AI technologies to socio-economic development should be intensified to advance the industrialization of the technologies so as to create good momentum for the integration of technological innovations with industrial applications, Xi said.
Xi stressed cultivating professionals in AI development, and said more forceful measures should be taken to develop high-level talent in the field.
Source: Shanghai Daily, November 1, 2018
China's manufacturing activity remains stable in October
31st October 2018

 China's manufacturing sector remained stable in October, official data showed Wednesday.

The country's manufacturing purchasing managers' index came in at 50.2 in October, narrowing from 50.8 in September, according to the National Bureau of Statistics.
A reading above 50 indicates expansion, while a reading below reflects contraction.
"The manufacturing sector, in general, continued to expand at a slower pace," said NBS senior statistician Zhao Qinghe. "The fundamental of the manufacturing sector remains stable."
Zhao said the manufacturing supply and demand in October experienced fluctuations due to factors including the National Day holiday and a complicated external environment.
Sub-index for production edged down from 53 in September to 52 in October, while the sub-index for new orders dipped from 52 in September to 50.8 in October.
Wednesday's data also showed that China's non-manufacturing sector held steady in October, with the PMI for the sector standing at 53.9 in October, down from 54.9 in September.
The service sector, which accounts for more than half of the country's GDP, maintained stable growth, with the sub-index measuring business activity in the industry standing at 52.1 in October, down from 53.4 in September.
Rapid expansion was seen in industries including postal service, Internet software and telecommunications, where the readings were all above 59, the NBS said.
Source: Shanghai Daily, October 31, 2018
China mulls bigger moves to cut taxes, fees
30th October 2018

 The Chinese government is expected to step up tax and fee reductions for enterprises as part of efforts to bring down the burden on the real economy, according to China Securities Journal.

Finance Minister Liu Kun has said enterprises' cost is expected to drop by more than 1.3 trillion yuan (US$188 billion) this year, adding that more large-scale and effective policies are in the pipeline.
Planned measures include simplifying tax brackets of value-added tax and lowering social insurance premiums, said the paper.
VAT and enterprise income tax, two major parts of the country's taxation system, should be the focus of tax reduction measures, said Liu Shangxi, head of the Chinese Academy of Fiscal Sciences.
"The current three VAT brackets could be merged into two and the change should take place as soon as possible," Liu said, adding that the 16-percent rate, the highest bracket followed by 10 percent and 6 percent, should be lowered.
Liu suggested China lower the rates of enterprise income tax. "The current general rate is 25 percent, with 20 percent for small companies and 15 percent for high-tech firms, which means there is room for further reduction. The tax policy should also be more standard, fair, and transparent."
Apart from cutting taxes, the requirement rate of social insurance premiums is also expected to be cut down to relieve burdens on businesses.
Jia Kang, the chief economist of the China Academy of New Supply-side Economics, advised putting China's social insurance premium from different regions into the same "pool" so as to improve capital's mutual aid functions and lower the baseline of endowments in social insurance.
China unveiled a string of policies to reduce taxes and fees at the beginning of this year.
In September, China saw the slowest growth year-on-year of both fiscal revenue and tax revenue since 2018, with VAT growth down 1.2 percent year on year, data from the Ministry of Finance showed.
The room for further tax reductions comes from three aspects — unnecessary fiscal expenditures, imperfect government spending structure, and relatively weak tax collection, Liu said. "If measures are implemented on the three aspects simultaneously, tax reduction will not increase deficit or debts."
Source: Shanghai Daily, October 30, 2018

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247