China´s development over the past 30 years is based on this liberation storm. The force released from the storm was so strong that it made China´s development miracle appear like a riddle. Those people trying to solve the "China Riddle" in the economy always come across the same clue, considered as the successful key to 30 years of reform in China; i.e., withdrawal of government control in economic sectors. Full Story>>
I. China, US launch strategic economic dialogue
II. China opens RMB business to foreign banks
III.RMB Revaluation
IV. China´s import and export value ranks 3rd globally
V. Income tax rates for local, foreign firms unified
VI.China´s largest overseas purchase
Japanese reaction: Japanese FM said Japan welcomed the revaluation, and the move "not only contributes to the stable development of China´s economy, but also has merit in terms of boosting Japan´s economy."
EU reaction:A European Commission spokeswoman said Friday this decision is very much in China´s interest in that it will help China grow in a much more balanced and sustainable manner.
The new law unifies the income tax rates for domestic and foreign invested companies.
