[02:46 March 12 2010] Simply raising the threshold for the payment of the individual income tax (IIT) won't do much to spur domestic consumption, and comprehensive changes such as subsidies to the poor and tax exemptions for medical care, housing and education are needed to lessen the tax burden on the middle class, according to global accounting firm Ernst & Young.
[10:22 March 11 2010] Agricultural Bank of China (ABC), the country's third-largest lender, has seen a 26.3 percent surge in its net profit for 2009 as it reaped gains from China's rapid credit expansion and reform of its rural operations.
[09:40 March 11 2010] Crude prices rose above 82 U.S. dollars per barrel on Wednesday as a U.S. government report showed that gasoline stocks dropped unexpectedly while crude inventories rose less than analysts' expectation.
[16:25 March 10 2010] The Chinese Premier Wen Jiabao said China should work hard to develop its financial market and press ahead with financial innovations, in his government work report delivered during the opening ceremony of the 11th National People's Congress last week.
[02:08 March 10 2010] The chief currency regulator reiterated Tuesday the country's continued commitment to invest in US Treasuries, calling the move responsible and assuring that a recent unloading of some holdings was simply part of regular market operations.
