It was also decided at the meeting to abolish the preclusion of the expenses of commissioned overseas R&D from additional tax deduction. The time limit for the capital loss carryover of high-tech firms and tech-based SMEs will be extended from five to 10 years. All enterprises will see the tax deduction for their employee training costs raised to 8 percent, the same rate as high-tech companies enjoy, from the current 2.5 percent. These three measures became effective on Jan 1.
It said the Ministry of Public Security will work closely with the People's Bank of China-the country's central bank-to monitor bank accounts of officials deemed suspicious and prevent them using offshore companies and underground banks to transfer funds abroad.
It will also consider three other factors including whether the foreign entity violates market rules or contract spirit for non-commercial purposes, whether it causes actual damage to Chinese firms or related industries, and whether it poses actual or potential threats to China's national security, Zhi said.
It stipulates that micro-blogging service providers or operators should set up a clear management system, use safe technical measures and qualified employees to run the platforms.
It was announced in a document released by the CPC Central Committee and the State Council on Jan 24 that a campaign against organized crime and officials who shelter criminal organizations would begin.
It was a long ride and Bush used every minute to ask Jarrett questions, ranging from China's domestic politics to its economy and relations with the US.
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It was also decided that social security contribution rates would be lowered. Steady progress has been made this year. In the first half, companies reported that their spending on workers' basic pensions and other types of insurance fell by over 128 billion yuan (.6 billion).
It was the city's first coercive indecent assault case in which the court issued a prison sentence.
It takes four minutes to fill the hydrogen tank of a bus with enough fuel to travel 300 kilometers, it said.
It will also hold two targeted procurement sessions for Italian private businesses and for an Italian hospital respectively.