Wednesday.December24.08 by Roger Hui.

Asian Agri-Group, New Asian Capital Foundation and China Growth Opportunity Fund jointed hands to form an investment group in Sichuan Province by signing draft agreements with more than 100 farmer households on livestock industry, and the immediate investment with contract value of RMB70 mil. will go to hog,cattle and pisciculture etc, however, the venture investor said that they would pour some RMB200 mil. into the relevant projects in next two years.

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Wednesday.December24.08 by Roger Hui.

China has released more favorable policies recently to back up nine industries, which include overall reform of VAT, adjustment of import/export tax rates, establishment of special fund to support technical renovation of industries, enlargement of loan scale to tackle hardship of cash-flow among MSEs, marketing promotion of industrial products by expanding governmental purchase, increase of strategic inventory of vital raw materials, reform of pricing mechanism for oil, gas, chemical fertilizer etc., supporting merger and restructuring of enterprices to encorage them to “go out” for exploring global market.

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Wednesday.December10.08 by goose on ice.

China’s top policymakers ponder ways to ensure GDP growth of at least 8 percent next year, the government is “very likely” to initiate cuts in business tax to add impetus to the slowing economy. The officials Monday began the three-day annual Central Economic Work Conference in Beijing, which sets the tone for policies next year. The authorities may soon cut business tax for enterprises by 1 percentage point from the current 5 percent, a source close to policymakers told China Daily, without mentioning a timeframe.That would amount to 120 billion yuan ($17.5 billion) worth of tax cuts given annual business tax revenues of more than 600 billion yuan ($87.6 billion) last year.Business tax - distinct from enterprise income tax and value added tax - is levied on enterprises and individuals that provide labor services, transfer intangible assets or sell immovable property in China.It was also reported earlier that policymakers would discuss raising the threshold of personal income tax from 2,000 yuan to 3,000 yuan a month to spur domestic consumption.The government, which announced a massive $586 billion stimulus package on Nov 9, wants at least 8 percent growth to provide employment opportunities to the roughly 10 million people entering the job market each year.Policymakers at the economic conference are expected to reach a consensus on how to implement the stimulus plan in a coordinated manner.“The economic conference this week may be mostly about fine-tuning these stimulus measures and thinking ahead to what next,” said David Dollar, the World Bank country chief for China.“I think the stimulus will be enough to keep China growing at a healthy rate so the focus now should be on good implementation.”“They (policymakers) will be laying out just how big the kitchen sink has to be to re-invigorate the economy,” said Stephen Green, senior Standard Chartered Bank economist in Shanghai. “All the data suggests the economy has further skidded into the fourth quarter.”“How to co-ordinate all that, how to judge its effectiveness, and what is next in terms of policy will likely all be discussed at the conference,” Green said.The major task at the conference is for policymakers to take concerted steps to keep the economy from being derailed by the global financial crisis and economic slowdown.“Above all else, the aim of the meeting will be to get everyone on the same page - growth, above all else,” he said, adding that the effect of the stimulus policies would surface in the second quarter of next year.The nation’s economic growth dropped to 9 percent in the third quarter, compared with 11.4 percent last year. The global economic slowdown may even drag down China’s growth to 7.5 percent in 2009, the lowest in two decades, the World Bank forecast earlier.The Chinese Academy of Social Sciences, however, was more upbeat in a report last week, tipping growth of around 9 percent next year.

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Saturday.December6.08 by Roger Hui.

• Paving Roads for Southwest

More than 13 state projects for express way of 1,600 km should have been completed by 2012 in Sichuan Province, Panda hometown and the total length of express way will surpass 3,500 km, hopefully, even up to 3800 km in the province, and by then 12 well-pasted express ways will link Sichuan with its neighboring provinces. At the same time, about 115,000 km of country high way are also to finish.

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