5% growth target set for 2017 fiscal revenue
National revenue projections and expenditure for 2017 were released early, Caixin reported Wednesday evening, citing figures found in Hunan province’s budget. Revenue in the central government’s general public budget is projected to grow 5% this year, up 0.5% from the actual figure of 2016. The number will be finalized in March after National People’s Congress approval.
2017年全国财政收入增长目标或定为5%
Current account surplus stood at US$202.7 billion in 2016
Sina Finance reported that the current account surplus reached 1.395 trillion yuan (US$202.7 billion) in 2016, while reserve assets of non-reserve financial accounts decreased 1.023 trillion yuan. The report cited State Administration of Foreign Exchange data.
外汇局：2016年储备资产减少4436亿美元
2016年我国经常账户顺差13950亿 储备资产减少29620亿
Average daily production of crude steel dropped 2.51% from December
As of mid-January, average daily production volume of crude steel at China’s main producer reached 1.6 million tons, a 2.51% month-on-month decrease compared to December last year, Sina Finance reported on Wednesday afternoon, citing information from the China Steel Association.
中钢协：1月中旬重点钢企粗钢日均产量环比下降2.51%
Regulator to tighten scrutiny on M&A approvals
The Securities Regulatory Commission will tighten its grip when approving merger & acquisition request, state Xinhua news agency reported on Wednesday. The watchdog pointed out that listed companies have been acquiring assets owned by their major shareholders or owners, causing a rise in goodwill assessments of a firm’s worth, and hoped that a more rigorous mechanism can result in more accurate valuations.
证监会：加强企业并购审核力度 引导市场估值回归
LED advertising monopoly set to end on rail network
A media unit of Broad Union is likely to lose its LED advertising monopoly it held for to decades on the national rail network, Caixin reported Wednesday night, citing people familiar with the matter. China Railway has filed lawsuit against the unit called High-speed Rail Media Company, accusing it of securing the advertising contract by using the close connection between owner Ding Shumiao and Liu Zhijun, the ex-railway minister sacked in an anti-graft campaign who is now in jail. The contract over 20 years, for example, in Taiyuan Station saw the media unit pocket 80% of the profits and the rest went to China Railway.
独家|铁总诉高铁传媒 终止20年广告合同
