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This year, 30 years after China adopted the
policy of reform and opening to the outside world, is the 15th
anniverssary of the establishment of Daxie Development Zong. The
Individual Workers' Association and Private-funded Enterprises
Association in Daxie Development Zone were respectively extablished in
1994 and 1998. Then, the zone had only 390 individually-owned
businesses and 200 private-funded enterpriese. But by October 2008, the
zone hs 1336 individual businesses with its registered capital of
59,290,000 yuan; and 881 private-funded enterpriese, with its
registered capital of 2,944,100,000 yuan. Private economy has become
an important part of the
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Last Thursday, China's central bank cut lending
and deposit interest rates for the third time in six weeks to shore up
confidence in the country's economy. According to the new policy, the
interest rate for current deposit remains unchanged. Banks' benchmark
two-year lending rate was trimmed 0.27 of a percentage point, while the
two-year deposit rate was cut by the same amount. The reductions for
three-year deposits and five-year deposits are the greatest,
respectively by 0.36% and 0.45%. Besides, the lending rate for
six-month loans is cut by 0.09% while for other loans, it is cut down
by 0.27%.
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China's central bank, the People's Bank of
China (PBOC), announced on Wednesday it would cut benchmark interest
rates by 0.27 percent to spur economic growth as of Oct. 30.
For people buying their first apartment, the down payment ratio will
be lowered to 20 percent, and banks will be allowed to charge as low as
70 percent of benchmark lending rates for such mortgages.
Mr. Zhang has been in Ningbo for 6 years and he has always been
considering
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From November 1, China will increase export
tax rebate rate of the commodities with intensive labor, high
technology and high value-added. That for textiles and garments will be
raised to 14%. As estimated the trade bureau, about 4600 local
companies will benefit from this policy. It is said the exports costs
will be reduced by 1.5 billion yuan in 2009.
Recently, the approval from the State Council, the Ministry of
Finance and State Administration of Taxation issued "Notice on
improving export tax rebate rate of partial commodities"
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The Statistics Bureau says the GDP of the city
has kept a rise of 10.4% over the first three quarters and the CPI
rises by 10.62%, taking a downturn momentum.
Youth Fashion Culture Festival
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