 IN BRIEF (Page 14)
(China Daily)
Updated: 2008-07-01 08:01 Pension fund gains The Chinese national pension fund's investment gains increased almost six fold in 2007 from a year earlier as returns from its stock holdings more than tripled, said the fund. Investment income at the National Council for Social Security Fund, or NSSF, jumped to 112.9 billion yuan last year from 19.6 billion yuan a year earlier, the fund said. Value-added tax cut China will cut the rate of value-added tax on dimethyl ether (DME), a coal-based alternative to oil, to help boost the development of alternative energy amid soaring world energy prices. The Ministry of Finance and State Administration of Taxation said yesterday that the government will cut the value-added tax rate on DME by 4.0 percentage points, to 13 percent, effective today. Property project Beijing CapitalLand, a Hong Kong-listed property firm, just embarked on a real estate development project in the country's five second-tier cities despite the tightened cash flow this year. The project, named "Beijing Capital International City" and target high-end customers, will be built in Tianjin, Shenyang, Chengdu, Xi'an and Wuxi, with the same development model, said Tang Jun, the company's president. RepuTex Top 10 released Ratings and research firm RepuTex yesterday announced the RepuTex China Top 10, a listing of China's most sustainable companies from the CSI 100 Index. The RepuTex China Top 10 identifies China's leading companies based on their effective management of environmental, social, governance and workplace risks, relative to industry peers. Highest performing companies are the Shanghai Pudong Development Bank and Baoshan Iron & Steel Company. Agencies-China Daily (China Daily 07/01/2008 page14) |
