China to roll out new tax cuts to boost high-quality development -- China will cut value-added tax rates as part of a tax reduction package amounting to 400 billion yuan (about 63 billion U.S. dollars) this year. The decision was made at a State Council executive meeting on March 28. It is expected to boost high high-quality development. The tax rate, starting from May 1, will be lowered from 17 percent to 16 percent for manufacturing, and from 11 percent to 10 percent for transportation, construction, basic telecommunication services and farm produce.
China to implement new regulation on express delivery sector -- China will see the implementation of a new regulation on express delivery services to help the sustainable and healthy development of the rapidly-growing sector. As the first separate law in the sector, it will be effective on May 1, according to a decree by the State Council. The regulation aims to establish a regulatory framework to guide the operation of courier services companies and improve the protection of consumers, and tackle emerging problems including information security and packaging waste.
China launches anti-dumping probe into phenol imports -- The Ministry of Commerce (MOC) announced on March 26 that it has started an anti-dumping investigation into imported phenol from the United States, European Union, Republic of Korea, Japan and Thailand. The ministry received an application for an inquiry from domestic producers, who accuse foreign manufacturers of dumping phenol on the Chinese market at prices below their fair value, according to an official statement. The investigation should be concluded by March 26 next year, but, in special circumstances, may be extended to September 26, 2019, according to the statement.
Beijing to phase out coal use in 450 villages -- Beijing's rural work authorities said on March 28 that the capital city will phase out coal use in all villages in the plain areas by the end of 2018. Households in 450 villages will switch from coal to gas or electricity for heating this year. In 2013, Beijing started to reduce coal consumption and the switch from coal to clean energy, part of its efforts to improve air quality in recent years. In 2017, Beijing switched 901 villages with a total of 369,000 households from coal to clean energy.
Xinjiang hikes minimum wage by 10 pct -- Northwest China's Xinjiang Uygur Autonomous Region has raised its statutory minimum monthly pay by an average of 10.4 percent to help offset rising costs of living. Monthly salaries -- before deductions for pension, unemployment, medical insurance and the housing provident fund -- were raised to 1,820 yuan (290 U.S. dollars), 1,620 yuan, 1,540 yuan and 1,460 yuan, depending on location, according to Xinjiang's human resources and social security bureau.
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