China's fiscal revenue down 13.6$ in April
The Ministry of Finance (MOF) announced yesterday that fiscal revenue dropped 13.6% year-on-year in April, falling to 589.72 billion yuan (86.47 billion U.S. dollars). Fiscal revenue from January-April fell 9.9% to 2.05 trillion Yuan. Business profits shrank as economic growth slowed, and with tax cuts intended to spur the economy and the financial markets, the government also saw its revenue drop.

China to lower industrial land prices to boost investment
The Ministry of Land and Resources has announced a 30% cut in the minimum purchase price of land for industrial use, so as to boost investment. The statement was made on the ministry's website on Wednesday but failed to say when the cut would take effect. The new rule will apply to investments that intensively use the land and those involving agriculture, forestry, animal husbandry and aquatic products.

Indonesia To Open Trade Promotion Centre In Guangzhou
After some time of hesitation and debate, Indonesia has decided to establish a Trade Promotion Centre (ITPC) in Guangzhou instead of Shanghai. According to a Trade and Industry Ministerial decree, the Indonesian Trade Promotion Centre is to develop markets and promote trade abroad. It will also improve business contacts and cooperation amongst businessmen, offer market information services and research, and set-up an Indonesian export commodity market.

Bigger Profit Lifts Tencent to Highest
The Shenzhen-based Tencent Holdings Ltd, the operator of China's biggest instant messaging service, rose to its highest level on the Hong Kong stock market yesterday, after it reported a higher-than-expected profit in the first quarter of the year. Its net income soared by 95% to 1.04 billion yuan (US$152 million) in the first quarter thanks to more online-game users. Its shares closed nearly 10% higher to end the day at HK$79.95 (US$10.32).

(source from koudai.360.cn)