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Call Your Accountant… VAT Rebate is Going Away!! 2007-09-20 06:54:48 For those of you who were readers of All Roads earlier in the year, you will know that I beat the majority of news services to the punch when reporting the reduction of the VAT rebate for 3000 goods. Well… if our sources are correct (same sources as last time), then we are about to see the end of the VAT rebate system for all or part of the goods still enjoying these rebates. Now, I am not suggesting anyone start ramping up production, but I am suggesting that readers begin factoring in the fact that VAT is going away. It may not be tomorrow, it may not be at the end of the year (current rumor), it may not be next summer (my original expectation), but it is going to happen…. and when it does, it may sting exporters for anywhere between 5 and 13%. Spend some time and figure out the impact. If you are in a strong market position, are already in China, are exporting, and believe your customers do not have any alternative then to buy your products… go ahead and inc ...

Soho China Shares Could Raise $1.65B 2007-09-20 04:11:04 Soho China Ltd., a Beijing-based property developer, is seeking to raise up to $1.65 billion in an initial public offering ahead of an Oct. 8 listing in Hong Kong. The company is selling 1.55 billion shares, or 31% of its enlarged share capital, in an indicative price range of HK$6.30 to HK$8.30 (US$0.81 to US$1.07). Read Original Post Here ...

ADB: Stock Drop Would Hurt Banks 2007-09-20 04:11:03 The Asian Development Bank said it expects further tightening measures from China to cool growth, and warned that a fall in China’s lofty stock prices could hurt bank balance sheets and the broader economy. Read Original Post Here ...

A Home-Grown Private-Equity Industry 2007-09-20 04:11:03 With the recent approval of China International Capital Corp. and Citic Securities Co. to make direct-equity investments, China lifts a ban on private-equity-style investing by securities firms. The ban had been in place since April 2001. The two banks, both among China’s strongest domestic investment houses, now join Bohai Industrial Investment Fund Management Co. Read Original Post Here ...

Beijing Boosts Benchmark Interest Rates 2007-09-20 04:11:01 Beijing raised benchmark interest rates, effective Sept. 15, as it stepped up efforts to damp accelerating inflation. Analysts predicted the central bank’s fifth rate increase this year won’t be its last. Benchmark lending and deposit rates went up 0.27 percentage point apiece. Read Original Post Here ...

Special Bonds Draw Solid Sales 2007-09-20 04:11:00 The Ministry of Finance sold a larger-than-expected 31.97 billion yuan ($4.25 billion) of 15-year debt on Sept. 17, in its first sale of special bonds directly to the market. The ministry slightly increased the size of the offering from the originally anticipated 30 billion yuan amid strong demand from cash-rich investors. Read Original Post Here ...

Chief Inspector Defends Food-Safety Regime 2007-09-20 04:10:59 The chief inspector of exported food, acknowledging immense international pressure, said he is working to strengthen oversight of Chinese products but expressed confidence that the nation’s system and its roughly 7,000 staff are up to the task. Read Original Post Here ...

PetroChina’s A-Share Offer To Help Boost Output 2007-09-20 04:10:59 PetroChina Co. plans to use the proceeds of its coming initial public offering of Class A shares to increase its crude-oil and ethylene output, as well as to build an oil-product transmission pipeline in China. PetroChina, the country’s largest listed oil and gas producer by capacity, intends to offer as many as four billion Class A shares ahead of a Shanghai listing. Read Original Post Here ...

Exports of Ginger, Garlic Decline Sharply 2007-09-20 04:10:58 The exportation of garlic and ginger to the U.S. has been sharply restricted in recent weeks. Beijing has ordered numerous facilities in Shandong province, the country’s main agricultural region, to stop shipping the foods until they can abide by tougher safety standards, according to several U.S. companies that import the products from China. Read Original Post Here ...

Game Developers Target Online Pirates 2007-09-20 04:10:57 CDC Corp., a Hong Kong software and online-game company, announced that it is heading up an alliance of game developers against online-games piracy in China. Read Original Post Here ...

China Asset Management Gets QDII Quota 2007-09-20 04:10:57 The foreign-exchange regulator has authorized China Asset Management Co. to invest as much as $2.5 billion in overseas securities. The quota, the third given to fund-management companies, was issued under the Qualified Domestic Institutional Investor program, which Beijing introduced last year as a step toward opening its capital account. Read Original Post Here ...

Investment Growth Gains Speed… 2007-09-20 04:10:56 Investment growth accelerated slightly in August, adding to concerns that Beijing has been ineffective at keeping economic growth in check. Urban fixed-asset investment in January through August rose 26.7% from the same period last year, up slightly from 26.6% growth in the first seven months, government data showed. Read Original Post Here ...

Sovereign Fund To Join State Firms In Overseas Ventures 2007-09-20 04:10:56 A planned state investment agency will join with state enterprises for investment projects as they look to go overseas, Li Rongrong, chairman of the State-owned Assets Supervision Administration Commission, said. It was the first clear sign that Beijing intends to use its planned sovereign-wealth fund to support the expansion of state companies overseas. Read Original Post Here ...

Hong Kong’s Exchange Fights for Its Financial Status 2007-09-20 04:10:55 Shanghai’s emergence as a financial market has put Hong Kong’s bourse under threat. Now the Hong Kong government is fighting back, betting its future¡Xand its autonomy¡Xon closer ties with the mainland’s main stock exchange. In recent years, Hong Kong’s stock market has fed China’s demand for capital by hosting some of the biggest share offerings ever seen. Read Original Post Here ...

Hutchison Plans Shenzhen Expansion 2007-09-20 04:10:54 Hutchison Port Holdings Ltd., the world’s largest operator of container terminals by volume handled, plans to spend 270.63 million yuan ($36 million) to increase its share of Shenzhen Yantian West Port Terminals Ltd. to 65% from 41.7%, according to a filing made to the Shenzhen stock exchange. Read Original Post Here ...