From our archives

April 24, 1984

Sino-US trade forecast is $5.5 billion

The mutual visits of leaders of the US and China will help make this a better year for Sino-US trade, which is expected to reach $5.5 to 6 billion, said William W Clarke, vice president of the National Council of US-China Trade.

Clarke said that he has noticed how China's progress in production has changed the nature of its US imports and exports.

He also believes that the US is becoming the biggest investor in China, and an even greater role is expected for American enterprises in China's modernization.

State scraps wage bonus ceiling

The ceiling on bonus payments in State enterprises is to be abolished, according to a State Council circular. However, enterprises paying high bonuses will be subject to a sliding scale of taxation.

The new bonus system will be adopted first by a few selected enterprises, and will then be extended to all industries.

The circular that was released last week said that bonuses could be paid by enterprises that have fulfilled State production quotas, increased profits and handed over more taxes.

Major taxi reforms instituted in Beijing

Beijing taxi service is undergoing major reform. The city's four taxi companies jointly began to change their management including the method of rewarding drivers on April 1.

The move was promoted by customers' complaints appearing on local media last February about the inefficiency of Beijing taxi services.

The bonus ceiling of the drivers has been removed and other methods have also been introduced to measure staff efficiency. In less than one month since the reform began, taxi business and profits have both gone up.

(China Daily 04/24/2009 page9)