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CHINA: "Approval for the 15% preferential Corporate Income Tax rate for Qianhai, Hengqin and Pingtan

CHINA: "Approval for the 15% preferential Corporate Income Tax rate for Qianhai, Hengqin and Pingtan new areas" report. 5-page report by KPMG China.

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back to index backCHINAtalk May,  2016


China Factory Stabilization Shows Little Need for Added Stimulus

With new data suggesting that China’s economy stabilized in April amid a property recovery and credit surge, analysts say there is little need for stepped-up monetary easing in the immediate future.

China’s official factory gauge, the manufacturing purchasing managers index, stood at 50.1 in April, the nation’s statistics agency said on May 1.  That is the second consecutive month the indicator has moved above 50, which indicates improving conditions. The non-manufacturing PMI, which signals conditions at services and construction firms, slid slightly to 53.5 last month after a big jump in March.

The stabilizing readings eased urgency to add monetary stimulus, which risks fueling housing prices or flooding overcapacity sectors such as steel or coal with cheap credit. Maintaining the pace of growth in China while reining in overcapacity is the delicate balance the government is trying to strike this year, and it is ready to pull the trigger again on further stimulus if signs indicate a sharp slowdown.

The near future is an observation period for the stimulus package,” said Ming Ming, a Beijing-based fixed-income analyst at Citic Securities Co. There won’t be any big moves temporarily. Risk in the financial markets -- including commodities, property and bond markets-- is the focus right now.”

To read entire article, please click here.

Source: IndustryWeek - GAI






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