23/04/2020
BEIJING (Reuters) – China will cut its subsidies on new energy vehicles (NEV) by 10% this year, and will expand government purchases of NEVs, the finance ministry said on Thursday.
China will in principle cut such subsidies by 20% in 2021 and 30% in 2022, the finance ministry said in a statement. However, it will not cut subsidies on qualified new energy commercial vehicles earmarked for public purposes this year.
Under the plan, China would extend subsidies for NEV purchases to 2022, rather than ending them this year, and extend their purchase tax exemption for two years.
China will slightly lift the requirements for the driving range and power efficiency of cars qualified for the subsidies, the statement said, adding authorities will support the sales of cars with swappable batteries, a technology that has been pursued by Chinese electric vehicle makers Nio Inc (NIO.N) and BAIC BluePark (600733.SS).
Only passenger cars cheaper than 300,000 yuan (34,330.23 pounds) will be offered subsidies, it said. The price is higher than starting price of Tesla Inc’s (TSLA.O) China-made Model 3 sedans.
China also said authorities will give priority to purchase new energy vehicles for government use but did not give further details.
The new policy is effective from April 23. NEVs include battery-powered electric, plug-in hybrid and hydrogen fuel-cell vehicles.
China has set an aggressive goal for NEVs to account for a fifth of auto sales by 2025 compared with the current 5%, as it seeks to reduce pollution and cultivate homegrown champions.
Sales of NEVs, however, contracted for a ninth month in a row in March and were down over 50% from a year earlier, according to data from the China Association of Automobile Manufacturers (CAAM).
Source: Reuters
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17/03/2019
BEIJING, March 16 (Xinhua) — China Saturday announced specific rules concerning tax exemption to reduce the amount of individual income tax (IIT) paid on incomes earned overseas.
According to the rules jointly unveiled by the Ministry of Finance and State Taxation Administration (STA), individuals who have lived on the Chinese mainland for six consecutive years and have stayed there for 183 days or more each year will need to pay IIT on their overseas-sourced incomes. Otherwise, their incomes earned overseas will be IIT exempt.
The clock for the six-year period will be reset if the individual leaves the mainland for more than 30 consecutive days in a year, according to the rules.
The rules, coming into effect on Jan. 1, 2019, also stipulated that a stay of less than 24 hours on the mainland will not be counted as a day, and the count started from Jan. 1 this year.
The adjustment marked more generous tax exemptions on overseas-sourced incomes of foreigners and non-mainland citizens working in the mainland. The move will attract more foreign investment and overseas talent to work in the mainland, the STA said in a statement on its website.
Previously, the exemption was for tax residents who have lived on the mainland for less than five years.
Source: Xinhua
Posted in China alert, exemption, Income tax, Uncategorized |
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13/12/2018
Chinese State Councilor and Foreign Minister Wang Yi (R) and Sheikh Mohammed bin Abdulrahman Al Thani, deputy prime minister and minister of foreign affairs of Qatar, co-chair the first meeting of a China-Qatar inter-governmental strategic dialogue mechanism in Beijing, capital of China, Dec. 12, 2018. (Xinhua/Ding Haitao)
BEIJING, Dec. 12 (Xinhua) — An agreement on mutual exemption of visas between China and Qatar will take effect from Dec. 21, the two countries announced Wednesday in Beijing.
The announcement came as State Councilor and Foreign Minister Wang Yi and Sheikh Mohammed bin Abdulrahman Al Thani, deputy prime minister and minister of foreign affairs of Qatar, co-chaired the first meeting of a China-Qatar inter-governmental strategic dialogue mechanism in Beijing.
The two sides hope to take this opportunity to bolster cooperation in tourism and expand people-to-people exchanges.
This year marks the 30th anniversary of the establishment of diplomatic relations between China and Qatar. Wang said it is of great importance to initiate an inter-governmental strategic dialogue mechanism between the two countries.
“China stands ready to work with Qatar to push bilateral ties towards another 30 years of faster development,” said Wang. He proposed the two sides use the opportunity of jointly pursuing the Belt and Road Initiative to synergize their development strategies and carry out win-win cooperation in in fields including energy, high and new technology, investment, finance.
Wang also introduced the measures taken and results achieved by Xinjiang Uygur Autonomous Region in combating violence, terrorism and extremism.
While calling terrorism a common threat to humanity, Mohammed said Qatar supports the measures taken by China in safeguarding national security and stability, and stands ready to strengthen cooperation in security and anti-terrorism.
Posted in China alert, exemption, Qatar, Uncategorized, Visa |
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CHINDIA ALERT: You'll be living in their world, very soon 