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BEIJING, Feb. 13 (Xinhua) -- China will impose tax on the one-off subsidy to people taking early retirement, the State Administration of Taxation (SAT) said Sunday.The SAT said the early retirement subsidy, which is not tax-free retirement income, should be imposed with personal income tax.However, the tax will be calculated after the subsidy is divided by the months between the date of the completion of retirement formalities and the corresponding legal retirement date, the SAT said.
BEIJING, Feb. 8 (Xinhua) -- China respects the results of south Sudan referendum, which was announced Monday, Chinese Foreign Ministry spokesman Hong Lei said Tuesday.Hong made the remarks in a statement concerning China's view on the results of the referendum."China respects the choice of Sudan people and appreciates the unremitting efforts of both the north and the south to promote the peace process between the two sides," Hong Lei said."China hopes the two sides will continue to resolve controversial issues through dialogue and consultation in line with the principle of mutual understanding and mutual accommodation," Hong said."China expects full implementation of the Comprehensive Peace Agreement(CPA) as well as long peace and stability in Sudan."The referendum, conducted from Jan. 9 to 15, was a major condition of the CPA, which ended a two-decade civil war between the two sides.The South Sudan Referendum Commission Monday announced the final results of the referendum saying that 98.83 percent of the voters had voted for separation.

BEIJING, Feb. 5 (Xinhua) -- Despite profound changes in the global economy, China's banking industry expects steady growth during the 12th Five-Year Plan (2011-2015), a senior banker said Saturday.China's steady and relatively fast economic growth is expected to lay a solid basis for the development of the commercial banks' main businesses, said Hu Huaibang, chairman of Bank of Communications, the fifth-largest lender.Meanwhile, the transformation of China's economic growth pattern would provide an impetus to the adjustment and optimization of the lenders' businesses, Hu said.Hu predicted businesses, such as consumer credit, asset management and credit cards, would enter a golden era over the next few years, along with the economy's shift to a domestic consumption-driven model from the current export-oriented growth pattern.Also, increases in personal wealth and growing numbers in the middle class would bring huge potential customers and development opportunities to the lenders, Hu said.Further, he urged Chinese banks to improve their services and launch new products to meet diversified demands.
BEIJING, Feb. 9 (Xinhua) -- The Chinese currency, or the yuan, rose to a new high of 6.585 against the U.S. dollar Wednesday, according to the China Foreign Exchange Trading System.The central parity rate of the RMB, or the yuan, was 10 basis points higher than the previous record of 6.586 set on Feb. 1, the previous trading day.The yuan appreciated 3.6 percent last year, but some analysts predict it could rise further against the dollar this year as the People's Bank of China (PBOC), the central bank, attempts to cool accelerating inflation.The PBOC announced Tuesday it would raise the benchmark one-year borrowing and lending rates by 25 basis points from Wednesday.On China's foreign exchange spot market, the yuan can rise or fall 0.5 percent from the central parity rate each trading day.The central parity rate of the RMB against the U.S. dollar is based on a weighted average of prices before the opening of the market each business day.
BEIJING, Jan. 23 (Xinhua) -- Chinese President Hu Jintao's state visit to the United States, during which he reached important consensus with U.S. President Barack Obama on building a cooperative China-U.S. partnership based on mutual respect and mutual benefit, has been closely followed by world media.The visit has drawn "unprecedented" world attention, said Gu Xuewu, director of the Center for Global Studies at the University of Bonn.NEW CHAPTER IN DEVELOPMENT OF CHINA-U.S. TIESCommenting on Hu's visit, which occurred at the beginning of the second decade of the 21st century, Professor Severino Cabral, director of Brazil's China and Asia-Pacific Research Institute, said the visit opened a new epoch for China-U.S. relations.The resumption of dialogue between the world's two major economies, which itself is a significant event, would exert great influence on the new world agenda, and hopefully help eliminate the residual cold war mentality and take bilateral relations to a new era, he said.Chen Kang, professor at Lee Kuan Yew School of Public Policy at the National University of Singapore, said that the joint statement issued by the two sides during Hu's stay -- built upon bilateral efforts to establish a cooperative partnership based on mutual respect and mutual benefit -- is a clear reflection of the two countries' resolution and pragmatic attitude in jointly meeting global challenges.China Press USA, a New York-based Chinese language newspaper, said in an editorial that the two countries' commitment to building an all-round and mutually beneficial, win-win economic partnership, as put in their joint statement, is the greatest achievement that comes out of the meeting between the leaders of the two countries in the economic sphere.Nouvelles D'Europe, a major Chinese language newspaper in France, said in an editorial that Hu's visit yielded fruitful results which are indispensable to world peace and development.In their joint statement, the two countries for the first time defined that China-U.S. partnership is based on mutual respect and mutual benefit. Stable China-U.S. relations contribute to world stability, and a win-win scenario between China and the United States is conducive to a scenario of multi-party-win in a multipolar world, it said.International Daily News, an Indonesian newspaper, said that Hu's visit achieved a historic breakthrough. Their joint statement signaled a new chapter in their "cooperative partnership based on mutual respect and mutual benefit," and Asia is hailing the new orientation of bilateral ties and achievement set up by the leaders of the two countries.
来源:资阳报