Govt. should expand house buying limits
THE government should expand home purchase restrictions to the entire country over the next three years, a government think tank said Friday, underscoring official intention to cool sky-high property prices.
The government has already ordered 35 Chinese cities to restrict residents from buying second or third homes, but the State Information Center thinks the curbs should be broadened. Worried near-record home prices could stir social unrest, the government has steadily reined in the property market since late 2009. But with real estate prices still rising, albeit at a slower pace, investors expect more tightening to come.
China adds taxes to rare earth prices
CHINA will increase taxes on rare earth at the start of April as global prices continues to rocket.
The Minister of Finance and State Administration of Taxation told rare earth producers that taxes on the minerals would jump from US$0.07 and US$0.45 per ton to US$4.5 for light rare earths and US$9.1 per ton for medium to heavy materials mined, a heady hike. The taxes will, according to domestic media, be used to support research on the processing of the materials, as well as setting up environmental compensation funds and building reserves back up after authorities have displayed concern over stocks.
EU appeals WTO ruling in fasteners dispute
THE European Union has appealed against a World Trade Organization ruling that said its duties on fasteners from China broke international trade rules, a WTO spokesman said Friday.
The ruling by a panel of WTO experts last year marked a victory for China in its first WTO dispute with the EU.
