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GBA Briefs: 12/7/2019

July 12, 2019 anthony@greaterbayinsight.com Leave a comment

Hengqin Cuts:Zhuhai’s Hengqin New Area has cut RMB704 million in taxes in the first five months this year, thanks largely to reforms of income tax for individuals and value-added tax for companies. Read more.

Dongguan Cuts:Dongguan cut RMB42.7 billion of tax last year, and this year is expected to see an acceleration as the city’s value-added tax has been reduced from 16% to 13% since April. Read more.

Huizhou Boosts:Huizhou is boosting industrial development by supplying more than 50% of te buildable land for industrial use and offering an administrative “green express” for key industries. Read more.

Turkish Cherries:Shenzhen has imported a load of 6.3 tons of Turkish cherries for the first time since the market was opened under the Belt and Road Initiative, worth US$24,000. Read more.

Retail Buy:Guangzhou-based discount online retailer Vipshop Holdings will buy brick-and-mortar chain Shan Shan outlets for RMB2.9 billion, furthering its expansion into physical retailing. Read more.

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