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FEE

Housing Purchase Transaction Fees to be Reduced

The National Development and Reform Commission (NDRC) announed yesterday that as of May 1 this year, new regulations will reduce and standardize the various transaction fees involved in purchasing a property. A raft of fees that cover everything from appraisals of construction design to environmental impact studies will either be done away with or reduced. The NDRC estimated that the new rules wil...

China Securities Journal | 2011-03-24

TRANSPORT

More than 96% of Public Roads in China to be Free

He Jianzhong, the spokeman for China's Ministry of Transport, told reporters at a regular press conference yesterday that "non-toll roads" would account for more than 96 percent of the country's public road network in the future. Currently, 95% of the country's public expresswaus, 61% of "level 1" highways and 42% of "level 2" highways rely on tolls to fund their construction. Mr. He also said tha...

The Beijing News | 2011-03-24

SPENDING

Central Government Departments to Publish How Much they Spend on Overseas Travel...

At an executive meeting of China's State Council chaired by Premier Wen Jiabao yesterday, attendees discussed the progress made in reducing the spending of central government ministries on what in Chinese are referred to as the "three officials" - that is the cost of maintaining the official car pool, of holding official receptions and of paying for trips abroad by officials. Though spending on th...

The Beijing News | 2011-03-24

CORRUPTION

Chief Engineer at MIIT Under Investigation

Several Caixin journalists report hearing from a variety of sources that Su Jinsheng (苏金生), chief engineer at the Ministry of Industry and Information Technology (MIIT), has been taken away for questioning and investigation by unspecified authorities on suspicion of violations of discipline.

Caixin Media | 2011-03-23

RECALL

Chairman of Kumho Tires Apologizes for Product Recall on CCTV

In the wake of a nationwide recall of some of the tires produced by the Korean Kumho Tire Company, the head of the company's Chinese subsidiary Lee Han-seop, apologised to Chinese consumers on a program aired on CCTV on Monday. The company blamed a Tianjin factory for producing the sub-standard tires and of using excessive quantities of recycled rubber. Kumho is one of the largest producers of tir...

Beijing Times | 2011-03-23

HEALTH

Ministry of Health to Lift Fines for Smoking in a Public

The Ministry of Health yesterday announced revisions to regulations that prohibit smoking in public places. According to the new rules, smoking in all indoor public spaces is strictly prohibted and the range of fines for smoking in a public place has been lifted from the current 20 to 20,000 yuan, to 500 to 30,000 yuan. The new regulations will come into effect on May 1.

China National Radio | 2011-03-23

PRICES

Chinese Consumers Paying Much More for Some Products than American and French Co...

Yao Jian, the spokesman of the Ministry of Commerce, yesterday responsed commerce department statistics that revealed Chinese consumers were paying over 50% more than American consumers and 72% more than French consumers for 20 brands of products such as watches, luggage, clothing, alcohol and electronic appliances. Yao Jian said that the situation of domestic consumers paying higher prices than o...

China News Agency | 2011-03-23