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  1. Resource tax revamp due

    Posted May 05th 2008, 12:00am by Eric Ng

    ... said more types of resources would be taxable, including underground water, to curb wastage. The resource tax reform has been under consideration since June last year when mainland media ... Eric Ng The central government will likely launch a long-awaited resource tax reform in this year's second half, including a broadening of the tax base, according to a mainland ...

  2. Business - China Business - RESULTS

    China Resources, brewer of Snow beer, to expand retail outlets

    Posted Aug 18th 2012, 12:00am by Charlotte So

    ... cent on HKEx China Resources' growth rises China Resources Enterprise, the brewer of Snow Beer, the mainland's No 1 beer in terms of sales volume, said it will grow its retail outlets ... Kirin Brewery. Frank Lai Ni-Hium, chief financial officer of China Resources, said: "We want to get ahead of our competitors as they delay their expansion amid the grim economic ...

  3. China Petrochemical escapes full resource tax

    Posted Oct 15th 2011, 12:00am

    ... Eric Ng eric.mpng@scmp.com China Petrochemical, the mainland's second-largest oil and gas producer, will not have to pay the full resource tax rate as Beijing plans to charge less ... an average resource tax rate of 3.7 per cent, Bloomberg reported. This is lower than the 5 to 10 per cent range announced by the State Council on Monday under a reform of the tax that will take ...

  4. Newton Resources to have another go at HK listing

    Posted Jun 21st 2011, 12:00am

    ... Toh Han Shih Hanshih.toh@scmp.com Newton Resources is expected to list in Hong Kong on July 4, after aborting a fund-raising plan last year amid a fraud scandal involving former ... Yao Zanxun said. 'In two to three years, we will double our mining resources. We have secured 100 per cent of our sales of iron concentrate for 2011 and 2012.' Six mainland steel ...

  5. Beijing may extend tax on resources to western areas

    Posted Jul 08th 2010, 12:00am by Eric Ng

    ... Eric Ng Beijing plans to expand the resources tax reform from Xinjiang to all 12 western provinces to help the economically underdeveloped regions. The reform will raise tax income for the resources-rich region and involves changing from a volume-based tax to a revenue-based one that ties the tax to resources prices. The plan was outlined by Premier Wen Jiabao at a work meeting ...

  6. Firing up the hiring

    Posted Jun 09th 2012, 12:00am

    ... Chris Davis It is often said the early bird catches the best worms. This may also prove to be the case when it comes to hiring experienced banking and finance employees. While Europe remains mired in financial uncertainty- and a dip in mainland manufactur ...

  7. Coal shares tumble on concern over resource tax reform

    Posted Jul 05th 2008, 12:00am by Eric Ng

    ... Eric Ng Mainland coal stocks tumbled on speculation the central government would unveil a long-expected drastic rise in resource tax paid by coal miners as soon as this weekend, in a bid to reduce resource wastage and pollution. The planned tax reform, first proposed in 2006, might also come as a kind of windfall tax after coal price soared, analysts said. Like the windfall tax ...

  8. New resources tax plan to triple cut on coal sales

    Posted Nov 29th 2007, 12:00am by Carol Chan, Eric Ng

    ... Carol Chan and Eric Ng Beijing is expected to triple the resources tax on coal and may also raise the levy on other minerals as part of its efforts to slow exploitation of the country's natural resources, a government official said. A proposal on the new resources tax had been submitted to the State Council, China Business News reported yesterday, citing lawmaker Sun ...

  9. Mining companies brace for doubling of resources tax

    Posted Jun 15th 2007, 12:00am by Carol Chan, Eric Ng

    ... Eric Ng and Carol Chan Impact on earnings may be minimal due to low base Mainland authorities are believed to be preparing to double taxes on mineral resources as they strengthen efforts ... and declined to comment further. The tax on resources has long been considered too low, particularly to prevent disorderly, wasteful and environmentally damaging exploitation, particularly by small ...

  10. Resourceful China missing from G7 show

    Posted Feb 07th 2004, 12:00am by Stephen Craig

    ... Craig Stephen Craig.stephen@scmp.com THIS WEEKEND'S G7 meeting in Boca Raton, Florida, again sees finance ministers of the leading industrialised nations gather to dissect the increasingly imbalanced-looking global economy and dysfunctional currency ...




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