Archive for June, 2011
The Salary Threshold for the Individual Income Tax Increases
Starting from September 2011, the salary threshold for the individual income tax will be increased to 3500 RMB. The current threshold is 2000 RMB.
The resolution was passed yesterday by the Standing Committee of the National People’s Congress. Along with the increasing of the threshold, the first level of the progressive rate will also be decreased from 5% to 3%.
The Chinese Finance Ministry says that, after the regulation, the total tax payers in China will be decreased sharply from 84 million to about 24 million, which means that only 7.7% of all working class will pay the personal income tax. Read full story…
Beijing-Shanghai High Speed Railway
The Beijing-Shanghai high-speed railway will officially start operation at 15:00 tomorrow (2011.6.30) afternoon. At the beginning, it will open about 90 pairs of trains, including one-stop direct trains and stop-only between capital of several provinces.
It has two types of trains, 300km/h and 250km/h. The price of the train ticket has been established. The second level ticket is 555RMB and the first level is 935RMB for 300km/h speed trains, and it is 410RMB and 650RMB for 250km/h trains respectively.
The Beijing-Shanghai high speed railway is from Beijing South Railway Station to Shanghai Hongqiao Station. There are 23 stations along the railway. It only costs 4 hours and 48minutes run time for the fastest direct train (300km/h direct) from end to end. It is 7hours and 56minutes (the shortest time) for 250km/h trains.
The project launched on April 28, 2008, and the total length is 1318km. Officials expect it to carry 80 million passengers and more than 100m tonnes of cargo each year. Last year, China gets its world record speed of high speed railway at 416.6km/h.
The Red Cross Society of China Discredits Following Guo Meimei
In the recent several days, the Red Cross Society of China (RCSC) has come in some heavy criticism following the Guo Meimei event.
Guo Meimei, formerly name is Guo Meiling, has a network nickname Guo Meimei Baby on Sina Microblog (Weibo.com). She was born in 1991 and only 20 years old. Guo Meimei lives in mansion that worth hundreds of million RMB. She owns fancy cars, such as Maserati and Lamborghini. And She has branded bags full of vaults. Read full story…
