Vote to begin on Hong Kong’s election reform
The Hong Kong legislature is set to debate the single largest democratic reform in the city’s history on Wednesday as a handful of lawmakers hold… Read More »Vote to begin on Hong Kong’s election reform
The Hong Kong legislature is set to debate the single largest democratic reform in the city’s history on Wednesday as a handful of lawmakers hold… Read More »Vote to begin on Hong Kong’s election reform
China and Australia signed a free trade agreement on Wednesday after a decade ofnegotiations, covering areas including a simplified review procedure for investments, most-favored-nation status and easier market access to service sector. Under the agreement, 85.4 percent of goods traded between both sides will cut tariffs to zeroimmediately. About 97 percent of Australian exports to China will be tariff free following thedesigned timeline step by step. There will include many agricultural products such as beef,dairy and wine. Australia will eventually reduce tariffs to zero on all goods imported fromChina. China’s major exports to Australia are machinery, telecommunication equipment, computer,furniture and garment product, and its main import from Australia are iron ore, coal, gold,copper, education-related travel services and agricultural products, according to the Customsdata. Official figures show trade volumes between China and Australia jumped from $88.1 billion in2010 to $136.9 billion in 2014. Australia had $9.4 billion trade surplus with China last year. Australia’s service businesses, such as education, tourism, telecommunications, healthcareand financial services, will gain more market access into China, either by partnering up withChinese companies, or in certain situations being able to access those markets directly. Private Chinese investment under $830,000 will not be subject to the approval of Australia’sForeign Investment Review Board. There also will be an Investor State Dispute Settlementmechanism under the agreement. China was Australia’s largest export market for both goods and services in 2014, accountingfor nearly a third of total exports, and a growing source of foreign investment. Eager to seek more new market growth points with close trade partners together, China alsosigned its largest bilateral free trade agreement in terms of volume with South Korea earlierthis month. Under the deal, China will remove tariffs on 91 percent of all products from South Koreawithin the next 20 years, while Seoul will eliminate tariffs on 92 percent of all goods in theother direction. FTA signals new era in trade ties The China-Australia Free Trade Agreement (FTA), agreed upon by President Xi Jinping andAustralian Prime Minister Tony Abbott last November, is set to start a new era in trade tiesbetween the two countries. Under the FTA, Australia will eventually reduce tariffs to zero on all goods imported fromChina, and China will remove tariffs on the vast majority of Australian goods. It will alsoinclude opening-up of numerous service sectors, a simplified review procedure forinvestments, most-favored-nation treatment, favorable market access rules and markettransparency. Chinadaily
Steam and smoke clouds rise from a power plant factory in Huai’an city, East China’s Jiangsuprovince, Jan 31. [Photo/CFP] The Ministry of Environmental Protection has imposed a total fine of 112 million yuan ($18million) on 160 cases nationwide in the first four months of this year. After the Environmental Protection Law came into effect, there has been a 515 percentincrease in cases in March and April from the first two months this year, Zou Shoumin, chiefof Environmental Inspection Bureau of the ministry, told Yicai.com on Monday. The highest fine of an individual case was 15.8 million yuan on Shaanxi Coal and ChemicalIndustry Group Co which failed to correct the problem of discharging excessive pollutants. China’s central Henan province handled 26 such cases in the first four months slapping a 29-million-yuan fine. Chinadaily
GUIYANG, June 3 (Xinhua) — Torrential downpours have been sweeping through southwest China’s Guizhou Province since Tuesday noon, killing one person and affecting more than… Read More »Rainstorms batter SW China, over 420,000 affected
BEIJING, June 3 (Xinhua) — China unveiled a blueprint for an industrial park in east China’s Yantai City on Wednesday to facilitate investment by enterprises… Read More »China unveils first industrial park after signing FTA with ROK
BEIJING, June 3 (Xinhua) — Chinese President and Chairman of the Central Military Commission (CMC) Xi Jinping’s vision for the educating of servicemen has been… Read More »Xi’s remarks on educating military staff published
BEIJING, June 3 (Xinhua) — China on Wednesday rejected certain parties’ misinterpretations of international law on territorial disputes in the South China Sea, saying its… Read More »China rejects misinterpretation of lnt’l laws on South China Sea
Chinese Premier Li Keqiang (C Front) mourns for victims at the site of overturned ship in the Jianli section of the Yangtze River in central… Read More »Li praises work of Yangtze search & rescue team
Photo taken on June 2, 2015 shows the airview of the rescue site of the overturned passenger ship in the Jianli section of the Yangtze… Read More »14 rescued in Yangtze sinking, over 430 missing
Chinese Premier Li Keqiang presides over a meeting of search and rescue work of the overturned ship in Jianli County, central China’s Hubei Province, June… Read More »Prioritize saving lives, premier tells Yangtze rescuers