In debates about whether growth is a percentage point up or down, we too often lose sight of the absolute scale of China’s economy. No matter what rate the country grows at in 2016, its share of the global economy, and of many specific sectors, will be larger than ever.
Source: McKinsey
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CHINA HEIZT SPEKULATIONEN AN
Bisher war China auf Gedeih und Verderb an den Dollar gebunden. Dies hatte zur Folge, dass der Yuan gegenüber wichtigen Handelspartnern zugelegt hat. Peking stellt nun die Wechselkurspolitik neu auf.
Source: NZZ News
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CHINAS APPETIT AUF SCHWEIZER FIRMEN
TDer chinesische Staatskonzern ChemChina übernimmt 12% am Genfer Rohstoffhändler Mercuria. Auch an Syngenta besteht weiterhin Interesse.
Source: NZZ News
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CHINA AND SWITZERLAND CONCLUDE BILATERAL TREATY ON SOCIAL INSURANCE
The governments of China and Switzerland recently signed the Sino-Swiss Social Security Agreement, pursuant to which an employee originating from either country may be exempted from contributing in the other country to certain types of statutory social insurance (e.g. pensions and unemployment). This will benefit employees working in cross-border environments.
Source: CMS
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CHINA SAYS TO EXPAND REFORMS, REPLACE BUSINESS TAX WITH VAT
China will expand tax reforms to replace a business tax with a value-added tax (VAT) this year, state radio quoted Premier Li Keqiang as saying, in the latest step to bolster slowing growth. Top leaders have already pledged to cut taxes and expand the government budget deficit this year to support economic growth, which slowed to its lowest level in 25 years in 2015.
Source: Reuters
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MOBILE REVOLUTION: OVER 90 PER CENT OF CHINA’S 620 MILLION INTERNET USERS USE SMARTPHONES, TABS TO GO ONLINE
The number of mobile internet users in China jumped to 620 million at the end of 2015 as over 90 per cent of people who surf the web in the country now do so on their smartphones and other mobile devices, according to a new report.
Source: South China Morning Post
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