Thanks to the help of US taxpayers and China’s government, General Motors Corp can continue its business, for GM gets a $13.4 billion loan from US taxpayer and $1,170 subsidies from the latter one.
As a result of cut in retail taxes on small vehicles, GM’s minivan venture sales in China have had a 32% rise in the first 2 months. Recently, the government is giving out 5 billion yuan in subsidies in order to promote the auto sales in countryside.
Because of the tax cut and subsidies, GM predicted that it would enjoy a double growth in China. However, in the US market, it saw a 51% slide in the sales, which forced GM to ask for about $16.6 billion aid from government. Read more…
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business, China, economy, government, loan, tax, U.S.
According to China’s Ministry of Industry and Information Technology (MIIT) last week, it is considering cutting tax for lead-acid battery exporters in order to stop them from laying off workers.
An MIIT official said they are discussing the report but no conclusion has appeared. His team is waiting for industry figures from last year and will decide whether to Read more…
Popularity: 4% [?]
China, economy, export, industry, policy, recession, report, tax
Based on the measures given by the central government, the transaction taxes has been lowered and payments and mortgage rates been reduced to bolster the sagging real estate market.
But analysts said the measures may not change the situation completely because the current prices have been much out of purchase ability of many buyers.
In order to Read more…
Popularity: 2% [?]
housing, market, measure, tax, transantion
As the Yuan has strengthened 4% against the US dollar so far this year, tax breaks for tax exporters are suggested to change the sluggish situation of textile industry.
Last year, the government reduced rebates on exports including textile, toys and steel products, making efforts to lower energy consumption and ease trade discord with the America and Europe. However, with the shutting down of many textile companies, the government should consider resuming some tax incentives to help them survive.
Aiming to maintain 15% growth in the total value of exports and imports in 2008, the government should take measures to “stabilize” investor’s expectations for the Yuan’s appreciation.
Popularity: 2% [?]
appreciation, China textile export, Chinese government, tax, tax incentives
Thanks to the help of US taxpayers and China’s government, General Motors Corp can continue its business, for GM gets a $13.4 billion loan from US taxpayer and $1,170 subsidies from the latter one. 
