Chinese Governments Mulls over Imposing Fuel Tax
The National Development and Reform Commission (NDRC), the country's top economic planner, announced yesterday (November 20) that China has been studying a fuel tax reform to replace the current road tolls imposed to drivers. This announcement came after media reports said on Wednesday that the government was likely to impose a fuel tax as early as next month. The planner didn't specify when they would launch this long-awaited reform
Stimula Package to Boost Dongguan industries
A 1 billion Yuan stimulus package enacted by the Dongguan government was implemented yesterday (November 20), in efforts to support the city's key small and medium-size enterprises. A total of 3184 companies have become the first group of beneficiaries of the stimulus package. The financing scheme provides direct loans, credit guarantees and discount interest loans to eligible companies.
Crude oil settles below 50 dollars Crude oil fell below 50 U.S. dollars a barrel on Thursday, their lowest level in more than three years, over concerns that the global economic downturn will effect energy consumption. Light, sweet crude for December delivery dropped 4 dollars to settle at 49.62 dollars a barrel on the New York Mercantile Exchange. Prices slid to as low as 48.64 dollars a barrel, their lowest level since May 2005.
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