Thursday, June 3, 2010

China News-;property tax

· China currency probe being weighed in the US according to Commerce Secretary Locke - The U.S. Commerce Department is seriously considering investigating U.S. industry charges that China's "undervalued currency" is an illegal trade subsidy (Reuters)

· China housing – China Vanke denied reports that it was going to cut prices on its residential projects this month b/c of sluggish transaction volume – DJ

· Chinese technology stocks rally on stimulus optimism - China will promote the development of the software industry, the head of the industry and technology ministry said in a speech published today, while the China Securities Journal said today a plan to stimulate bio-technology in the country may be submitted to the cabinet for approval this month.  Bloomberg

· ChinaExtending home-appliance trade-in program until the end of 2011, the Ministry of Commerce said in a statement today. Bloomberg

· China studying nationwide property tax - A senior official with China's powerful planning agency confirmed media reports that the country was studying a possible nationwide property tax but had no specific plan - Reuters

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