Archives of “Shanghai” tag

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New coronavirus outbreak spreads to Beijing, Shanghai

  
  Analysis
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Chinese state media confirms its first reported case for Shanghai

Virus

Meanwhile, Beijing reported two confirmed cases hours ago as the number of people infected by the new virus in China having more than tripled since the weekend.

For some context, the infection – which happens to be a strain of coronavirus, leading to cases of pneumonia – first appeared in Wuhan last month.
If you’re wondering why this sounds familiar, it’s because the Sars virus is also a strain of coronavirus and health officials in China have so far said analysis of the genetic code of the new virus closely resembles that of the Sars virus.
This may not be something that has a direct influence on markets but just be wary that fear can take shape in many different ways. The ebola virus outbreak case back in 2014 serves as a good reminder of that, causing the equities market to shudder a little.
So far, outside of China there have been one confirmed case in South Korea, two in Thailand, and one in Japan – with regards to the new virus.

15 Facts About China That Will Blow Your Mind

  
Analysis, Economy, Education
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1.) By 2025, China will build TEN New York-sized cities.

2.) By 2030, China will add more new city-dwellers than the entire U.S. population.

3.) China already consumes twice as much steel as the US, Europe and Japan combined.

4.) If the Chinese, one day, use as much oil per person as Americans, then the world will need seven more Saudi Arabia’s to meet their demand.

5.) There are already more Christians in China than Italy, and China is on track to become the largest center of Christianity in the world.

6.) Chinese are far more likely to believe in evolution than Americans.

7.) Chinese internet users are five times as likely to have blogs as Americans.

8.) China has 150% more soldiers than America does, plus a high tech ‘Kill Weapon’ the U.S. can’t deal with.

9.) China still hasn’t rid itself of Europe’s medieval plague.

10.) 40% of Chinese small businesses went bust or almost went bust during the world financial crisis.

11.) China executes three times as many people as the rest of the world COMBINED… and uses mobile execution vans for efficiency.

12.) China averages 274 protests PER DAY.

13.) When you buy Chinese stocks, you are basically financing the Chinese government. Eight of Shanghai’s top ten stocks are state-controlled arms of the government.

14.) 50% of counterfeit goods come from China.

15.) The majority of Chinese drink polluted water.

China greasing economy with $55bn in tax breaks

  
Analysis, Education
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China’s State Council on Wednesday approved 380 billion yuan ($55.1 billion) in tax relief that will mainly favor farmers and small businesses in a move that is seen as both economic and political.

The second large-scale tax cut to follow last year’s comes as China’s economy is forecast to slow down in the latter half of 2017, during which the Communist Party will convene its 19th National Congress and reshuffle top leadership.

China will modify its value-added tax this July by removing the 13% bracket while retaining the 6%, 11% and 17% tiers. The 13% rate currently applies to farm products and natural gas, but they will move to the 11% category. Farmers as well as households that purchase rice and vegetables will likely benefit from this change.

For smaller companies, those that pay 300,000 yuan or less in annual taxable revenue qualify for preferential tax treatment. The ceiling will be lifted to 500,000 yuan. Furthermore, small businesses and startups will be allowed to deduct 75% of research and development costs, up from 50%. These tax breaks will remain in effect until the end of 2019.

The Chinese government enacted about 500 billion yuan worth of corporate tax cuts in 2016. Helped also by a surge in infrastructure spending, the real economy grew 6.9% during the January-March period this year, marking the second quarter of economic acceleration. However, the People’s Bank of China, the country’s central bank, has been gradually raising market interest rates in order to rein in the real estate bubble. (more…)

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