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Congestion or consumption? Beijing ponders trade-off on car purchase incentives to boost Chinese economy

A debate over whether the Chinese government should extend financial incentives for car purchases to increase consumption and economic growth is heating up.It started as sales in the world’s largest automobile market fell for the tenth month in a row in March. This created problems for domestic and foreign carmakers and hindered Beijing’s efforts to create a “powerful home market” that would offset the impact of China’s trade war with the US and slowing demand for Chinese exports.As China’s… Source link

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China’s middle class still seeking protection in Hong Kong’s insurance market despite forex crackdown

China’s growing wealthy middle class population are increasingly looking to safeguard their assets and plan for the future by investing in long term insurance and saving products in Hong Kong, but strict financial controls in the mainland are limiting opportunities.The products, including critical illness insurance as well as life insurance, are often denominated in US dollar and have grown in popularity in China, with premiums collected from mainland Chinese visitors making up 30 per cent of… Source link

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China cuts tax on personal items bought overseas in move to boost consumption

China has cut a controversial tax on personal items bought overseas, ranging from iPads to books, in an effort to boost consumer confidence.The government will slash the “tax on baggage and articles accompanying incoming passengers and personal postal articles”, a three-in-one tax consisting of value-added tax, consumption tax and import duties on April 9, according to a notice posted online by the Ministry of Finance on Monday.The tax rate on products including computers, foodstuffs, gold and… Source link

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Chinese cities step up efforts to lure domestic migrants as government plans to relax local restrictions

Chinese cities will be ordered to partially or in some cases completely lift restrictions on new domestic migrants as the competition to attract a shrinking pool of graduate talent intensifies in the world’s second largest economy.China’s National Development and Reform Commission published its 2019 urbanisation plan on Monday, specifically stating cities with a population under three million should lift all restrictions on new domestic migrants, while cities with populations between three to… Source link

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Big data enters the fray in the war against cancer as pharmaceutical laboratories combine drugs like cocktails to kill cancerous cells

Pharmaceutical researchers are using big data analysis and machine learning to help them find the most appropriate cocktail of drugs to fight cancer, as combination therapy – the use of two or more drugs to treat a disease – is increasingly being pursued in their quest to find a cure.Unlike the cocktail used in fighting HIV/Aids, there are millions of possible drug combinations to consider for fighting different types of cancerous cells, so finding the right pair or trio is akin to finding… Source link

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Can cheaper drugs help home-grown labs turn the table on foreign Big Pharma in China’s cancer treatment market?

A scientist transfers fluids into a tube at the Driver Inc. laboratory in Shantou, China, on Wednesday, August 29, 2018. A pair of Harvard-trained American oncologists behind the startup Driver, backed by Hong Kong billionaire†Li Ka-shing, are attempting to harness technology to revamp cancer care. They’re taking some of their earliest steps in China — cancer’s ground zero. Photo: Bloomberg Source link

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Chinese take a shine to Europe’s investor immigrant schemes, as waiting list for US programme stretches to 10 years

Wealthy Chinese mainlanders are taking a shine to Europe as a potential emigration destination, as they seek out alternatives to the United States, where long processing times and policy uncertainty have put a damper on the appeal of citizenship in the world’s largest economy.Data from the US State Department shows visas issued to China-born applicants last year under an investment immigration programme called EB-5 dropped by almost half from the peak in 2014.A total of 4,642 visas were issued… Source link

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That curious Chinese regulation about IPO sponsors also owning stakes? It’s ‘temporary,’ says nation’s biggest investment bank

A new regulation that compels initial public offering (IPO) sponsors on China’s technology board to also take up stakes is merely a temporary requirement that is subject to amendment, said the country’s largest investment bank.“We understand that this arrangement is temporary,” said Bi Mingjian, chief executive officer of China International Capital Corporation (CICC), during a press conference in Hong Kong. “It should be handled in the proper manner” by the regulator, he said.The new rule,… Source link

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Asia’s smog exodus: companies forced to offer ‘pollution premiums’ to recruit top talent

From smog breaks to pollution bonuses, Asia’s businesses are promising increasingly inventive perks in a desperate bid to lure executives to a region where toxic air engulfs major cities for much of the year.Health concerns are putting off those initially attracted by Asia’s growing economic opportunities, experts warn, so firms are struggling to recruit – and retain – people with the expertise they need.According to the United Nations Environment Programme, some 92 per cent of people in the… Source link

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China looks to individual retail investors to raise local construction funds amid economic slowdown

China’s pilot bond sales programme aimed at raising construction funds to aide the slowing economy enjoyed an impressive start as the first batch worth 300 million yuan (US$45 million) sold out quickly in the port city of Ningbo on Monday.A total of six provinces and cities – Ningbo, Sichuan, Zhejiang, Shanxi, Shandong and Beijing – have been chosen to test the scheme which will see local government bonds sold to individuals at bank counters and via internet banking.The annual interest rate of… Source link

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