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STEEL

Shougang Continues Exit from Capital as Shijingshan Factories Halt Production

Shougang Iron and Steel Group began closing its Beijing plants in the run up to the 2008 Beijing Olympics and moved much of its production to the Hebei coast in order to modernise and help improve Beijing's air quality. According to a company announcement, more than 22,000 employees will be effected by the latest decision to completely stop production at one of Shougang Steel's last remaining fact...

The Beijing News | 2010-12-07

TAX

Sulfur Dioxide and Wastewater to be Targeted by Environmental Tax

A reporter from the Economic Information Daily learned from anonymous source that the Ministry of Finance, State Administration of Taxation and The Ministry of Environmental Protection have approved the environmental tax plan. Sulfur dioxide and wastewater will be the first two items to be taxed.

Economic Information Daily | 2010-12-07

RMB

Number of Pilot Companies for RMB Cross-border Settlement Expanded

The number of pilot companies for RMB cross-border settlement has been increased from 365 to 67,359, or say, by 185 times, according to a notice released by the central bank yesterday. Some insiders have said this expansion will bring drastic development to RMB cross-border settlement.

China Business News | 2010-12-07

CARBON EMISSIONS

Cars with Low Carbon Emissions Will Not Be Subsidized Next Year

An anonymous source with the National Development and Reform Commission (NDRC) told a reporter from Xiaoxiang Chenbao that subsidies for purchasing low-emission vehicles will expire at the end of this year.

Xiaoxiang Chenbao | 2010-12-06

STATE OWNED ENTERPRISES

Professor Suggests Selling State-owned Assets to Finance Social Security Fund

State-owned enterprises have accumulated 40 trillion yuan in state-owned assets. Zhou Tianyong, deputy director of the research department of the Party School of the CPC Central Committee, proposed in the international forum of “Income Distribution Reform and Increasing the Speed of the Economic Development Model Transformation” yesterday that some of these assets be sold to finance China’s social...

The Beijing News | 2010-12-06

REAL ESTATE

71 COEs Still Dealing Property

Of the 78 centrally-owned enterprises (COEs) that were required by the State-owned Asset Supervision and Administration Commission to withdraw from the real estate market in April, only 7 enterprises have begun to transfer their shares of property subsidiaries. The other 71 COEs, with more than 200 property subsidiaries in all, have not.

China Securities Journal | 2010-12-06

INCOME

SASAC to Regulate Income of State-owned Enterprises Employees

The State-owned Asset Supervision and Administration Commission (SASAC) will promote income reform for employees of state-owned enterprises and establish a strict income adjustment mechanism, Yu Ji, director of the SASAC’s distribution department stated yesterday. He admitted that the average income level of state-owned enterprise employees was higher than that of their counterparts working for pr...

The Beijing Times | 2010-12-06