20220429 China News
Source: | Author:eacham | Published time: 2022-04-29 | 1399 Views | Share:



01

Multinational corporations in Shanghai have implemented contingency plans to maintain production as the city's authorities have introduced measures to help businesses in the city return to normal operations. While supply chain challenges remain, most executives of multinationals said that their long-term confidence in China remains intact.

 

02

China's tax authorities provided businesses nationwide with various types of tax and fee policy support equivalent to over 1 trillion yuan ($152.4 billion) from Jan 1 to April 20, official data shows. Apart from VAT credit rebates and tax and fee cuts, this policy toolbox also includes tax and fee deferrals for small and medium-sized manufacturing firms, according to the State Taxation Administration.


03 

Meituan announced on Wednesday it will partner with a number of financial institutions, including China Everbright Bank, to jointly offer collateral-free loans at fairly low rates to some owners of small restaurants serving local specialty street foods. The total line of credit will be no less than 10 billion yuan ($1.52 billion), of which Meituan will contribute 30 percent.

 

04

Chinese tech heavyweight Huawei Technologies Co announced on Thursday first quarter revenue fell nearly 14 percent from the previous year to 131 billion yuan ($20.63 billion). Hu Houkun, Huawei's rotating chairman, said in a statement "Our consumer business was heavily impacted, and our (information and communications technology) infrastructure business experienced steady growth. In 2022, we still face a challenging and complicated business environment."

 

05

The Chinese mainland on Wednesday reported 1,494 locally transmitted confirmed COVID-19 cases, of which 1,292 were in Shanghai, according to the National Health Commission's report on Thursday.Apart from Shanghai, 16 other provincial-level regions on the mainland saw new local COVID-19 cases, including 56 in Jilin, 48 in Beijing, and 46 in Zhejiang.

 

06

China's Ministry of Finance said in a statement on Thursday that it will cut import tariff for coal to zero from May 1 to March 31, 2023, as an effort to guarantee energy supply and promote high quality development. The move was decided by the Customs Tariff Commission of the State Council in accordance with due procedures. Currently, import tariff for coal ranges between 3 percent and 6 percent, depending on the specific type of coal.

 

07

China's commerce ministry has been sparing no effort to boost the supply of daily necessities for regions experiencing COVID-19 resurgences, the Ministry of Commerce said on Thursday. The ministry has been transporting goods from various locations to the affected regions to ensure the steady supply of daily necessities, ministry spokesperson Gao Feng said at a press conference.





Author: Producer Emilio Mendez

Speaker: Caroline Parraguez

Edition: EAcham




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