China planner offers details on 4 trln yuan stimulus package
A senior Chinese planning official told reporters today (November 14) that the new 4 trillion Yuan (586 billion U.S. dollars) economic stimulus package includes 1.18 trillion Yuan from the central government through 2010. Mu Hong, vice director of the National Development and Reform Commission (NDRC), said the agency would add 100 billion Yuan for new investments during the fourth quarter of the year.
China's urban fixed assets investment up 27.2% in first ten months
The National Bureau of Statistics announced today that China's urban fixed-asset investment was of 11.32 trillion Yuan (1.66 trillion U.S. dollars) in the first 10 months of this year, up 27.2 percent year-on-year. The growth rate was 0.3 percentage points higher than the same period last year.
500 Yuan Subsidy called on for Taxi Driver
The Guangzhou Taxi Association called on taxi companies to subsidize 500 Yuan every month to each taxi to help offset the influence of the financial crisis on the taxi business. The advocator suggested the subsidy should run from this month to January 2009. Many companies have given a positive response to this proposal.
Stocks surge to nearly 2000 on stimulus hopes
China's stock market continued to surge over 3% today (November 14), stimulated by hopes for a major boost to the economy from fiscal spending and monetary easing. The Shanghai Composite Index ended up 3.05 percent at a three-week closing high of 1986.44 points. The Shenzhen Component Index rose higher by 4.66%, closing at 6660.41 points.
Crime to mime, pop stars told Professional performers who cheat their audiences by lip-synching or pretending to play their instruments during "live" shows are likely to face stiff penalties from next year onwards, an official from the Ministry of Culture said on Wednesday. Individuals or organizations caught doing so twice or more within a two-year period will have their business licenses revoked.
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