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BEIJING, May 21 -- China's tax authority has cut or waived a tax levy, offered a tax refund, and reiterated the tax concession on donations related to the earthquake in Sichuan Province as means of helping to support victims.     Losses suffered by companies and individuals due to the 8.0-magnitude earthquake can be tax deductible, the State Taxation Administration said in a notice on its Website.     As of 6pm yesterday, the number of people killed by the devastating quake has reached 40,075 while 247,645 people have been injured and there were still 32,361 people unaccounted for.     The supplies donated by overseas governments, individuals and companies are exempted from import taxes (including Valued Added Tax and Customs Duties), the tax authority said.     People whose tax-paid autos or ships have been destroyed in the quake can apply for a refund of Vehicles and Vessels Usage Tax for the period from the date they were destroyed until the end of the year. Normally auto and ship tax is prepaid at the beginning of the year. Students of Jiefang Primary School donate money to the quake-hit region in Sichuan Province in southwest China, in Harbin, capital of northeast China's Heilongjiang Province, May 14, 2008    Victims who can't afford to pay the land use tax due to the quake can ask for the levy to be reduced or exempted from the tax.     People who buy new homes will be exempted from the deed tax on new home transactions or enjoy a cut in the tax rate. The rules are enforced by the provincial governments for the quake-hit area.     Companies and individuals who donated money to the earthquake area will be partly exempted from taxation, the tax authority reiterated.     Companies on the Chinese mainland have made a combined donation of more than 4.5 billion yuan (US5 million) in cash and goods as of yesterday afternoon, according to Chinese Web portal Sina.com.     Donation, which are within 12 percent of a company's total annual profit, can be claimed as tax deductible expenses, according to China's corporate income tax law. Donations that exceed the amount are not tax deductible.     For individuals, donations that are less than 30 percent of their income, can be tax deductible. The donations must be made through domestic non-commercial social entities or government bodies. Individuals' donations made directly to the quake victims are not tax deductible.

HANGZHOU, July 8 (Xinhua) -- Vice Premier Li Keqiang has urged the country's enterprises to raise their international competitiveness by speeding up transformation and adjustment in line with the changing domestic and global economic situation.     During a three-day inspection and research tour in the booming southeastern Zhejiang Province, which ended on Tuesday, Li visited textile factories, electric machinery companies and high-tech enterprises to get a first-hand assessment of enterprise reform amid a new domestic and international market climate. Chinese Vice Premier Li Keqiang (2nd L, front) speaks while visiting auto parts producer Wanxiang Group in China’s Zhejiang Province on July 7, 2008.During visits to Wenzhou-based enterprises including garment producer Fapai Group and lighter maker Rifeng, Li said the overall Chinese economy was fundamentally in good shape and China was confident of keeping its economy growing steadily and fast.     However, he said, the global economic slowdown and imported inflation were having an increasing impact on the economy and the country should take aggressive measures to deal with such challenges. Chinese Vice Premier Li Keqiang (C, front) talks with migrant worker Qiu Xucui (R, front) who is from the quake-hit Mianzhu city of southwest China’s Sichuan Province while visiting shoemaker Kangnai Group in China’s Zhejiang Province on July 6, 2008.In visiting electric machinery companies such as leading auto parts producers Wanxiang Group and Ruili Group Corp., Li said the economy was undergoing a critical period, which called for deeper reform.     The government should lose no time or opportunity to improve the market economic system and try to make price increases "acceptable" for both industries and the public, Li said.     He noted that China should also seek better development of foreign trade, improve the mix of imports and exports, and encourage Chinese enterprises to expand into the international market.     At high-tech enterprises like Supcon Group and Alibaba, which owns China's largest e-commerce website, Li said enterprises should also continue to promote technological innovation and improve their management so as to boost their competitiveness.     He also said vigorous development of enterprises was vital for the economy to maintain steady and fast growth and governments at all levels should do their best to provide better services for all companies and create a better climate for the development of enterprises

CHENGDU, June 29 (Xinhua) -- The current earthquake relief and rebuilding work have further displayed the nature and capabilities of the Communist Party of China (CPC), said Chinese Vice President Xi Jinping Sunday in a tour to quake-hit areas of Sichuan Province.     The mainstay role played by Party organizations at different levels, Party members and officials in the anti-quake campaign shows that the recent years' efforts to Party building have been "very fruitful," said Xi, also member of the Standing Committee ofthe CPC Central Committee Political Bureau.     During his 3-day inspection tour, Xi visited Youxian, Pingwu, Beichuan, Jiangyou, Dujiangyan and Wenchuan counties, which were worst hit by the May 12 earthquake. Chinese Vice President Xi Jinping (Front) looks at quake ruins in Yingxiu Town of Wenchuan County, southwest China's Sichuan Province, June 29, 2008. Xi Jinping inspected the quake relief work in Sichuan Province in the recent daysHe talked to ordinary quake survivors, Party members and officials, and rescuers, while visiting tents and makeshift residence buildings. He also distributed books to some students. He told construction workers from Shandong, Guangdong and all other provinces to ensure the quality of the temporary houses.     Wherever he went, Xi inquired the performances of local Party organizations and Party members in the rescue and relief work. He spoke highly of the many "Party Member Commandoes", who have won high appreciation by the people.     "(We must) ensure that where there are people still in need, anti-quake efforts and rebuilding work to be done, there are grassroots Party organizations and Party work," he said.     On Sunday afternoon, Xi presided over a workshop, to hear reports by local officials and study relief, post-quake rebuilding, and economic and social development in Sichuan. Chinese Vice President Xi Jinping (C) visits quake-affected people at a resettlement in Dujiangyan, southwest China's Sichuan Province, June 28, 2008. Xi Jinping inspected the quake relief work in Sichuan Province in the recent daysHe said "a safe, timely and smooth relay of the Olympic Torch in Sichuan must be ensured," which will be the last leg of the torch relay only second to Beijing, host city of the 29th Olympic Games.     On the same day, Xi had a meeting with visiting delegations of the Hong Kong and Macao special administrative regions, respectively led by HK Chief Executive Donald Tsang Yam-kuen and Macao Chief Executive Ho Hau-wah. Chinese Vice President Xi Jinping (L) shakes hands with a woman as he visits quake-affected people in Pingtong Town of Pingwu County, southwest China's Sichuan Province, June 28, 2008. Xi Jinping inspected the quake relief work in Sichuan Province in the recent days.

BEIJING, April 15 (Xinhua) -- Chinese Premier Wen Jiabao called for establishing a fair, open, reasonable multilateral trade system of non-discrimination in the world on Tuesday.     "We oppose protectionism in investment and trade," he said during a meeting with visiting British Finance Minister, Chancellor of the Exchequer Alistair Darling, who is attending the first China-UK economic and financial dialogue.     Wen vowed to work with Britain and other countries to push the Doha round toward a comprehensive and balanced result. Chinese Premier Wen Jiabao (R) meets with Alistair Darling, British chancellor of the exchequer and special representative of British Prime Minister Gordon Brown, in Beijing, capital of China, April 15, 2008. Alistair Darling is in Beijing to attend the first China-Britain economic and financial dialogue.    He said the international community was facing increasing opportunities and challenges as economic globalization developed.     Both China and Britain were influential countries and should strengthen their dialogue based on mutual respect, equality, and reciprocity so as to expand common ground and overcome disputes, he added.     Wen hoped China and Britain would take the economic and financial dialogue as a platform to promote mutual understanding and cooperation.     Darling, visiting China as British Prime Minister Gordon Brown's special representative, said Britain viewed relations with China from a long-term perspective.     He said Britain would like to promote dialogue with China on handling issues like economy, finance, and the environment.     He said protectionism on trade was wrong, adding that Britain supported recognizing China's complete market economy status and opposed measures boycotting Chinese commodities.     Darling arrived in Beijing on Monday afternoon. He met with Vice-Premier Wang Qishan early Tuesday.

BEIJING, May 28 -- China's economy can maintain a steady growth above 8 percent for a relatively long period because of a stable society, a vast market and ample capital, said Cheng Siwei, an economist and former vice chairman of the Standing Committee of the National People's Congress.    "China's economy can stay in the fast developing track if we work hard and pay enough attention to existing problems," Cheng said at a three-day forum with the theme of "Economic globalization and the choice of Asia: transition, growth and welfare" Wednesday in Shanghai.     "Social stability is crucial to economic development while China has a market of 1.3 billion people, which creates a huge consumption power," said Cheng. "Meanwhile, China's foreign reserves have reached US.68 trillion, and it has built up an ample capital pool."     China also beefed up its efforts to improve education and expand its coverage, which paved the way for sustainable economic development, he said, but added that there were problems China could not afford to ignore. File photo of Cheng Siwei    One of them was the yawning gap between the rich and the poor. The income of urban residents has tripled that of rural households while the purchasing power in cities was four times larger than that in rural areas.     China faced increasing pressure to protect the environment and in securing raw materials and resources for its economy. It also lacks a large pool of senior professionals in finance and management.     "For example, we buy a lot of the United States treasury bonds. It means appointing them (US bond managers) to manage our assets and we only gained a little bit of interest," said Cheng. "We are trying to work on such problems."     Cheng estimated China's per capita GDP can reach US,000 by 2010, US,000 by 2020 and US,000 by 2049, given its economic expansion and a stronger yuan.