Ministry of Finance

Beijing Urges U.S. to Avoid Default

As the U.S. government begins its second week on shutdown, Beijing has urged Washington to avoid a debt crisis and protect Chinese investments. Reuters reports: China, the U.S. government’s largest creditor, is...

Xinhua: No “Massive Stimulus”

State-run Xinhua News Agency announced Tuesday that China will not introduce a large stimulus similar to the one it implemented during the 2008 financial crisis, tempering expectations following a call last week by Premier Wen...

China to Brighten Bleak New Year With Cash Gifts

The Chinese government will be giving small cash gifts to some 74 million citizens before Chinese New Year. From Reuters, via MSNBC: China will give its neediest citizens hand-outs of up to 180 yuan ($26) to brighten their mood...

Tax Dilemma for China’s Ministry of Finance

From Economic Observer Online: Corporate income tax is likely to be targeted as a major source to boost China’s state coffer as its Ministry of Finance faces increasing fiscal spending pressure from natural disasters and...

China to Slap Export Taxes on Grains – AFP

From AFP: China said on Sunday it will levy taxes on grain exports in 2008 in the latest move apparently aimed at reining in galloping inflation and ensuring stable domestic food supplies. The rates would range from five to 25 percent, according to a brief announcement posted on the website of the Ministry of Finance […]

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