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HONG KONG, March 20 (Xinhua) -- Hong Kong signed an agreement with Brunei for the avoidance of double taxation and the prevention of fiscal evasion with respect to income taxes, the HK Special Administrative Region government said on Saturday.According to an official news release, Financial Secretary John Tsang signed the deal with Brunei Second Minister of Finance Abdul Rahman Ibrahim on Saturday during his visit to the southeast Asian country.This was the sixth comprehensive agreement for the avoidance of double taxation concluded by Hong Kong.It will eliminate double taxation instances encountered by Hong Kong and Bruneian investors, and bring about tax savings and certainty in tax liabilities in connection with cross-border economic activities.It is also believed to help foster closer economic and trade links between the two places, and provide added incentives for Brunei's enterprises to do business or invest in Hong Kong.Profits of Hong Kong trading companies doing business through a permanent establishment in Brunei may be taxed in both places if the income is Hong Kong sourced. Under the agreement, double taxation is avoided in that any Brunei tax paid by the companies can be deducted from the tax payable in Hong Kong.
BEIJING, Feb. 22 (Xinhua) -- China's exports may grow by 8 percent in 2010 but problems still existed with getting exports back to pre-crisis levels, according to a statement posted Monday on the website of Ministry of Industry and Information Technology (MIIT), quoting minister Li Yizhong.It was unlikely for China's exports to recover to pre-crisis levels in the short-term, Li said during a Sunday meeting attended by MIIT officials, attributing the slow rebound to rising international protectionism and the fact that Chinese manufacturers relied too much on overseas markets.The 8-percent growth forecast was still far below 2008's 17.2-percent increase, according to customs data.Despite overtaking Germany as the world's largest exporter, China saw its exports contract 16 percent year-on-year in 2009 as overseas demand slumped.Exports in January this year grew 21 percent on lower comparison bases a year ago due to the global economic downturn and less working days as the Lunar New Year holiday fell in January last year, said the General Administration of Customs earlier this month.Li also stressed that China should keep the yuan stable in a speech addressing the current domestic economic situation during the meeting, as international pressure on China to strengthen the yuan was intensified.

BEIJING, Feb. 24 (Xinhua) -- China should further step up efforts to implement the plan to adjust and reinvigorate some of the country's key industries, according to an executive meeting of the State Council held on Wednesday.The meeting was chaired by Premier Wen Jiabao.Progress has been made in 2009 for adjusting and promoting key industries, however the situation remained grave as weak global demand was still affecting China's economy and more efforts were needed to curb overcapacity in some industries, according to a statement released after the meeting.To combat the global economic downturn, China in 2009 adopted a massive plan to adjust and reinvigorate the country's ten key industries covering cars, steel, information technology, logistics, textile, nonferrous metal, equipment manufacturing, petrochemicals, shipbuilding as well as light industry.The implementation of the plan was a long-term task which should focus on the structure adjustment and development mode transformation of the ten industries, said the statement.Vigorous efforts should be made to expand domestic demand, optimize industrial layout, curb overcapacity, eliminate retrograde productivity, push company merger and restructuring, promote technology innovation and deepen reform to facilitate development mode change, it said.
BEIJING, Feb. 17 (Xinhua) -- The number of railway passengers rebounded sharply in China on Tuesday as more people started their return trips after Spring Festival family reunions, the Ministry of Railways said Wednesday.Passengers wait to take their trains inside a makeshift waiting room at a railway station in Nanchang, capital of east China's Jiangxi Province, Feb. 17, 2010. The railway station of Nanchang met its transport peak on Wednesday as large numbers of returning tourists went by trains here.Statistics from the ministry show China's railways served 4.185 million passengers on Tuesday, up 689,000 or 9.8 percent from the previous day.To cope with the increased demand for seats, the ministry added 238 special trains to ease the traffic, of which 64 were long-distance trains.People wait for their buses at a long-distance bus station in Jinan, capital of east China's Shandong Province, Feb. 17, 2010. Jinan met its medium and short-distance Spring Festival travel peak on Wednesday with most of the travelers going by long-distance buses to visit their relatives.The ministry predicts the travel peak days will probably be Feb. 19 and 20, as more and more passengers start their return trip. The ministry said it is closely watching the passenger flow situation and will adopt appropriate measures to meet passenger demand.Meanwhile, statistics from the Ministry of Transport (MOT) show that on Tuesday the country's roadways carried 28.1 million passengers, increasing 1.8 million or 12.6 percent from the previous day, while from Feb. 13 to 16 the combined figure was 127 million, up 10.8 percent from the same period last year.The MOT said that the country's roadways carried a total number of 32.5 million passengers on Wednesday, up 9.7 percent year on year.Wednesday MOT figures revealed that China's waterways were forecast to carry 780,000 passengers, down 2.5 percent year on year.The country's roadways were already ready for more passengers' long-distance return trip, as the one-week Spring Festival holiday was near its end, said He Jianzhong, a spokesman with the MOT.The Spring Festival, also known as the Chinese Lunar New Year, is China's most important annual festival. It is an occasion for reunions of family members, relatives and friends.
BEIJING, March 11 (Xinhua) -- The producer price index (PPI), a major measure of inflation at the wholesale level, rose 5.4 percent in February from a year earlier, the National Bureau of Statistics (NBS) announced Thursday.It quickened from 4.3 percent in January this year, and 1.7 percent in December 2009, when the figure posted the first monthly rise since December 2008.
来源:资阳报