27/04/2020
BEIJING, April 26 (Xinhua) — China announced Sunday to extend tax exemptions by an additional four years to further improve the inclusive finance service for smaller businesses.
The tax exemptions, which expired at the end of last year, will be extended to Dec. 31, 2023, according to a statement jointly issued by the Ministry of Finance and State Taxation Administration.
In order to boost policy support and encourage financial institutions to step up financial services, Chinese authorities decided in 2017 that financial institutions will be exempt from value-added taxes (VAT) on income from interests for loans to small and micro-sized businesses and individually-owned businesses.
The joint statement also said the VAT, which was already collected but eligible to be waived, can be deducted in subsequent months or refunded.
Source: Xinhua
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20/04/2020
BEIJING, April 19 (Xinhua) — China will step up efforts to expedite technological research on the construction and application of digital infrastructure, according to the Ministry of Industry and Information Technology (MIIT).
More support should be provided to the research and development of 5G enhancement technology and 6G technology, while the accurate matching of innovation, industrial, capital and policy chains should be promoted, said Chen Zhaoxiong, vice minister of the MIIT.
Chen also stressed the importance of emphasizing the huge demand for digital transformation and improving new digital infrastructure to facilitate economic and social upgrade of the country.
The MIIT will take a string of measures to optimize industrial development, such as expediting construction of 5G and industrial internet connecting people, machine and things, developing new types of intelligent computing facilities, advancing orderly construction and application of large data centers while upgrading micro and small data centers, enriching application scenarios and building a network security system.
Source: Xinhua
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24/10/2019
BEIJING, Oct. 23 (Xinhua) — Chinese authorities demand primary and middle schools to step up education on environment protection and reduce the use of plastic, according to a statement issued Wednesday.
The schools should not force students to use plastic book covers, especially substandard ones, which could damage children’s health, said the statement.
The statement also requires low-carbon consumption in curricular and extracurricular activities and in school management so as to raise the environmental awareness among the students.
Source: Xinhua
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22/09/2019
- October 1 event is intended to be a showcase for military’s progress under Xi Jinping, with J-20 stealth fighters set to take pride of place
- Domestically developed weapons are main focus of event despite long-standing problems in building aircraft engines
Chinese J-10 jets perform at the Dubai air show in 2017. Photo: AFP
China has stepped up intensive rehearsals for the upcoming National Day parade, which military insiders say is designed to showcase the achievements of Chinese President Xi Jinping’s modernisation drive.
The parade on October 1 will mark the 70th anniversary of the founding of the People’s Republic and will focus on weapons developed since Xi came to power in late 2012, despite long-standing problems in aircraft engine development.
Video clips circulating on mainland social media in recent days have shown at least seven types of aircraft – including the KJ-2000 airborne early warning and control aircraft and J-10 and J-11B fighter jets – taking part in rehearsals over the countryside around Beijing.
A military insider said the country’s first stealth fighter jet, the J-20, had been rehearsing over the western suburbs of the capital since April.
“There will be up to seven J-20 displayed in the military parade, which is the largest formation since its formal deployment to the Chinese air force in 2017,” the military insider said.
“The J-20 has entered mass production. So far at least 70 J-20s have been made, even though all of them are still equipped with Russian AL-31 engines.”
Earlier this month, the People’s Liberation Army Air Force released a video of a flight of seven J-20s, the largest formation seen so far, suggesting that the fifth-generation warplane has gone into mass production as an arms race with the United States mounts in the region.
The second-largest J-20 formation was shown in an air force video for PLA Day on August 1, when five of the jets were shown.
China has been forced to deploy the J-20 ahead of its schedule since the US has increased the deployment of its fifth-generation stealth fighter jets like the F-22 and F-35s in the Asia-Pacific region.
The US and its allies, including Japan and South Korea, will have more than 200 F-35s by 2025, which means China also needs a similar number of stealth fighters.
To meet demand, China has been working on the development of a purpose-built thrust engine for its stealth fighter since the early 2000s, but has yet to achieve international quality control standards due to problems that include single-crystal turbine blade technology.
China’s air force spreads its wings in 70th anniversary video
Hong Kong-based military commentator Song Zhongping said aircraft engine development had been a long-standing shortcoming but it would not affect the practical fighting capacity of the J-20, which currently uses Russian engines.
“The J-20 hasn’t used the domestic engines so far because it wants a better one, and it still has time,” Song said.
“Other [Chinese-developed] warplanes like the J-10, J-11 and multipurpose attack helicopters are all modified and advanced types, indicating comprehensive achievements amid China’s military modernisation over the past years.”
A Chinese J-20 stealth fighter has entered mass production. Photo: EPA-EFE
Besides the domestically developed aircraft, Beijing is going to display its strategic nuclear missiles, such as the DF-41 intercontinental ballistic missile and the JL-2 submarine-launched ballistic missile, as centrepieces of its National Day military parade, according to a Beijing-based military source.
Xi, who also chairs the powerful Central Military Commission, inspected the country’s biggest military parade at the Zhurihe Combined Tactics Training Base in Inner Mongolia in 2017 to celebrate the 90th anniversary of the PLA, but the source said the weapons displayed in Zhurihe had been developed under the leadership of Xi’s predecessor, Hu Jintao.
“Xi needs to highlight his personal achievements in his era, that’s why this year’s parade has political aims more than military significance,” the source said.
The source also highlighted the significance of the People’s Republic marking its 70th anniversary because the Soviet Union did not survive for that length of time.
“Xi is attempting to tell the outside world that Chinese communist regime has been consolidated under his leadership.”
Source: SCMP
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CHINDIA ALERT: You'll be living in their world, very soon 