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SHANGHAI will expand tax reform and improve fiscal structure to encourage healthy economic development even as the mayor warns the city faces problems in raising fiscal revenue this year.

The city will prioritize investment in innovation and infrastructure, boosting consumption, and supporting public welfare in its fiscal expenditure this year, Mayor Yang Xiong said at a municipality conferenc
FOOD authorities in central China's Henan Province yesterday ordered an investigation into a poultry company that reportedly bought sick and dead chicken from farms, then resold the sick ones to fast food restaurants such as KFC and McDonald's and processed the dead ones into animal feed.

The company, Doyoo Group, one of China's largest suppliers to KFC and McDonald's, said the company treated
The legislation passed by the US to avoid the "fiscal cliff" will benefit the Chinese economy in terms of boosting exports and reducing the devaluation risks of China's US debt holdings, but will bring imported inflationary pressure to China, experts said Thursday.

US President Barack Obama signed the "fiscal cliff" legislation into law Wednesday in Hawaii, after the Republican-led House of Re
Jingdong Mall recently issued a statement confirming that one of its logistics personnel is embroiled in a corruption scandal. It has been learned that a purchasing manager of 360buy is under police detention for selling complimentary commodities acquired from suppliers to the company at high prices.

According to Jingdong, the company established a supervision department in mid-2009, w
irst time fines handed down to overseas firms for price fixing

The mainland on Friday joined an international crackdown on a price fixing conspiracy involving several suppliers of LCD screens, levying penalties of 353 million yuan ($56.6 million) on Samsung, LG and four Taiwan companies.

The settlement, though less punitive in the eyes of analysts, was considered a landmark move as it was t
CONSUMER confidence in Shanghai rose in 2012 from a year earlier on a recovering economy and better products provided in the city, a survey showed yesterday.

The Index of Consumer Sentiment rose to 70.12 last year from 68.89 in 2011, indicating more consumer confidence and better consuming experiences among local residents, according to Shanghai University of Finance and Economics.

A readin
Aliyun and net.cn, two cloud computing internet service companies under China's largest internet company Alibaba Group, will be merged as a new company retaining the Aliyun name, reports Chinese IT news website ChinaByte.
China's Internet user base will reach 800 million in 2015, according to China's Ministry of Industry and Information Technology (MIIT). As explained by MIIT minister Miao Wei, as the MIIT speeds up its "Broadband China" project and strengthens broadband construction in China, the number of Internet users in the country will continue to increase rapidly.

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