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China's Ministry of Finance said it will introduce tax breaks for certain housing transa

China's Ministry of Finance said it will introduce tax breaks for certain housing transactions from Nov.1, 2008 and relax mortgage (抵押)rates for first-time home buyers, the moves could help stabilize the country’s property market.

The ministry said the measures, which had been widely anticipated, are intended to help the general public, particularly the poor.But their effects could support housing purchases and help developers as well.

The government data showed that the growth of investments in real-estate development has slowed in recent months.Urban property prices slowed for the eighth month in a row in September to the lowest increase in more than three years.

Among the moves, China will suspend the stamp duty (印花税)on purchases and sales of individual homes, and the value-added tax on land for individual home sales.

It will also cut the deed tax (契税)rate to 1% for first-time homebuyers purchasing homes that are 90 square meters or smaller, lowering housing transaction costs.

The People’s Bank of China said it will lower the floor on mortgage rates to 0.7 times its benchmark (基准)lending rates for individuals buying their first ordinary homes for their own use, from 0.85 times now.It will also adjust the minimum down payment requirement to 20% of the purchase price on such transactions.

The National Development and Reform. Commission (NDRC)said property prices in 70 of China’s large and medium-sized cities rose 3.5% in September from a year earlier, down from August’s 5.3% rise.

However, the Chinese government has already been busy using fiscal (财政的)policy to drive economic growth.The state is making great efforts to tide over the current housing market downturn arising from the global financial crisis.

1.In Paragraph 1, the word “moves” could be replaced by which of the following?

A.Progress.B.Direction.C.Measures.D.Investments.

2.According to Paragraph 2, who will benefit from the measures?

A.Property developers.B.Low-income people.

C.Home buyers.D.All of the above.

3.The Chinese government’s main purpose in suspending several taxes is ().

A.to reduce housing transaction costs

B.to disturb housing market

C.to improve building quality

D.to enhance the competitiveness of property developers

4.Which of the following is not mentioned in the passage?

A.The growth of property investments in China has slowed.

B.Second-home buyers can also enjoy these favorable policies.

C.Up to September, urban housing prices slowed down for 8 months in succession.

D.The tax breaks for certain housing transactions had been widely expected.

5.We may infer from the passage that the attitude of the Chinese government towards the depression in the housing market is ().

A.not clear B.activeC.negative D.indifferent

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更多“China's Ministry of Finance said it will introduce tax breaks for certain housing transa”相关的问题

第1题

Quick News Review of the Week: May 8-14Sino-Japanese talksBeijing and Tokyo have agreed to

Quick News Review of the Week: May 8-14

Sino-Japanese talks

Beijing and Tokyo have agreed to hold talks later this month on natural gas exploration in the East China Sea. The two sides will soon set up a meeting between their foreign ministers in an attempt to thaw icy relations.

The agreement was reached last Tuesday, the third and final day of a Sino-Japanese strategic dialogue in Guiyang, capital of Southwest China's Guizhou Province.

Chinese Vice-Foreign Minister Dai Bingguo and his Japanese counterpart, Yachi Shotaro, headed the two delegations.

Retail growth

The Ministry of Commerce said last week that the country's retail sales rose by 16 percent year-on-year over the May Day holiday week, with larger retailers primarily driving growth.

Retail sales of consumer goods hit 278 billion yuan(US $34.7 billion) over the holiday period. The figure accounted for nearly half of the country's average monthly retail sales in the first quarter of this year.

Big chain enterprises used their larger sales networks and brand power to play a leading role in the "Golden Week" market, the ministry said.

Pyramid schemes

Chinese authorities have uncovered more than 1 billion yuan(US $125 million) in illegal pyramid scheme sales over the past 12 months, the Ministry of Public Security said last week.

Figures from the ministry reveal 516 cases involving l, 147 direct sales organizations. A total of 3,408 suspects were arrested.

Gao Feng, deputy director of the ministry's Economic Crime Investigation Bureau, said pyramid schemes had become a serious economic crime in China.

New fund

Bohai Industrial Investment Fund, the first fund launched by mainland enterprises to directly invest in other companies, will begin operations next month, Tianjin Mayor Dai Xianglong said last week.

"The fund's senior management team has been determined, so it's ready to start in June," Dai said.

The creation of the fund could lead to the establishment of similar organizations in China, which is welcome news for companies short on capital, analysts said.

Airport development

The central government said last week that China will spend more on airport development in the next five years than it has in the previous 15, opening up huge investment opportunities for overseas and domestic investors.

The Civil Aviation Administration of China(CAAC. the industry regulator, said 140 billion yuan(US $17.5 billion) has been earmarked(指定款项等的用途) for airport development from 2006 to 2010. Only 120 billion yuan(US $15 billion) was invested in the country's airports between 1990 and 2005. Spending will now focus on the development of 42 new airports, in addition to upgrades to existing infrastructure.

Dam completion

Construction of the giant Three Gorges Dam on the Yangtze River is scheduled to finish by May 20, marking the completion of the biggest part of the Three Gorges Hydropower Project.

Cao Guangjing, deputy general manager of China Yangtze River Three Gorges Project Development Corp, said last week the dam would be completed nine months ahead of schedule.

The dam, which is 2,309 metres long, 185 metres high and 15 metres wide, will be the world's largest. Approximately 16.1 million cubic metres of reinforced concrete bas been used on the project.

Port expansion

China's port and shipping facilities will be expanded to include two major new regions, the Ministry of Communications said last week.

Five new "port clusters" will be prioritized as part of a new development plan that will complement existing ports in Shanghai, Shenzhen and Tianjin.

Communications Minister Li Shenglin said some of the new port groups would be located on the mainland side of the Taiwan S

A.Y

B.N

C.NG

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第2题

听力原文: China has agreed to share 20 virus samples from poultry killed by bird flu, in a
n effort to help scientists trying to develop a vaccine, the WHO said. WHO officials in Beijing said Chinese authorities had granted WHO's request for up to 20 live samples, which will be analyzed in international laboratories to improve understanding of the killer virus.

The two sides are working out the logistics, including how to ship the samples and which lab they will go to. The shipment is "significantly larger" than the last one China provided, which consisted of five live viruses from poultry in 2004.

WHO enjoyed good cooperation with China's Ministry of Health, which has shared viruses from human cases, but confronted problems trying to convince the Ministry of Agriculture to share samples.

Through negotiations, the two sides worked out an arrangement that will give the scientists due credit and involve them in subsequent research whenever possible.

WHO officials expressed the hope that the agreement could open the way for more regular sharing of viruses, which is important to determine the different types of strains of the deadly bird flu virus that exist and how they affect humans differently.

China has reported 34 outbreaks among poultry since the beginning of last year and 15 confirmed human cases of bird flu, resulting in 10 deaths.

The virus has killed more than 100 people worldwide since 2003, mostly in Asia. It has spread from Asia to Europe and Africa in recent months.

(4)

A.Humans.

B.Poultry.

C.Fish.

D.Monkeys.

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第3题

听力原文:China has come up with a first nationwide regulations on managing alcohol sales,

听力原文: China has come up with a first nationwide regulations on managing alcohol sales, including a ban on selling alcohol to minors, China Youth Daily reports.

The "Alcohol Circulation Management Regulations" enacted Thursday by the nation's Ministry of Commerce are set to get into effect January 1, 2006.

The regulations set up systems to supervise alcohol sellers, and include a registration and tracing system.

The new rules also demand that trade administration departments at all government levels cannot block or undermine the legal circulation of alcohol products. This is being widely viewed as an effort by the central government to restrain protectionism in regional trade.

The report did not say how those who don't obey the new regulations would be punished.

The action follows a recent trend in some major urban areas. In March of this year, the Shanghai local government carried out a rule banning the sale of alcohol to minors, the Xinhua news agency said.

According to that regulation, selling cigarettes and alcohol to minors is banned.

Adults cannot help minors buy such products, nor are they permitted to smoke in school classrooms, libraries or any location where children are frequently present. All stores selling cigarettes and alcohol are required to post "No Cigarette and Alcohol Sales to Minor" warning signs.

(36)

A.Children education.

B.Alcohol sales.

C.Environmental protection.

D.None of the above.

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第4题

Urban Energy Planning for a Sustainable EnvironmentThe People's Republic of China (China)

Urban Energy Planning for a Sustainable Environment

The People's Republic of China (China) is the world's most populous country and the second largest energy consumer, with a rapid economic growth that has led to sharp increases in energy demand. In order to address this issue, China has to make a large investment in energy development and production and in the improvement of energy efficiency.

At the beginning of 1998, the Chinese government enforced the Energy Conservation Law (ECL), promoting and encouraging energy efficiency as well as the development and use of renewable energy.

In November 2001, in the framework of the Sino-Italian Cooperation Programme for Environment Protection (SICP), the Italian Ministry of Environment and Territory (IMET) and the State Environmental Protection Administration of the People's Republic of China (SEPA) signed a Memorandum of Understanding (MOU).

According to the MOU, SEPA and IMET agreed to undertake the project titled Urban Energy Planning for a Sustainable Environment (UENP) at the municipal level. A set of "target" municipalities was identified within China's territory, allowing for a subsequent dissemination of the UENP approach to other locations with similar energy efficiency problems. Initially, the energy planning effort will be primarily focused on three cities: Jinan, Suzhou and Taiyuan.

Project Objectives

The general objective of the UENP is to identify and evaluate optimal solutions to reduce CO2 emissions and to improve the integrated environmental quality in the long run.

More specific objectives are:

the assessment within the "pilot" municipalities of the potential for an increase in energy efficiency in the most significant energy consumption sectors, taking into account the general structure of energy supplies and use and related environmental pollution issues.

the formulation of feasible energy planning for each one of the pilot municipalities which may serve as a basic support for and guidance to the local authorities in the energy development and environmental protection sectors.

The UENP will enable local governments to make appropriate decisions about energy production and consumption at the local level, for the industry, agriculture, service, and civil infrastructure sectors. The development of such a planning tool will involve both international and national experts as well as local experts and authorities in order to guarantee the sharing of the results.

Capacity Building

All of the activities included in Phases A, B and C will be performed through a close cooperation between the Italian and the Chinese expert teams. During the project, a specific program of training and capacity building for the Chinese experts will be activated.

Project Funding

The total cost of the project is 1.1 million Euro, including 0.3 million Euro for the activities to be performed by SEPA. CETMA will act as the implementation agency for the Italian side.

Duration of the Project

The duration of the project is estimated to be 18 months.

Methodological Approach

The UENP will consist of the following three phases:

Phase A: Energy Planning Framework

Aim of this phase will be to assess the current energy situation in China, with a national as well as a regional perspective.

This exercise will provide the conceptual and strategic framework for the activities to be developed in the following project phases. Phase A will include the following main activities:

review of the present conditions of the national and regional economics, energy sources and environment;

estimation of energy demand (medium and long term) and the potential load on the environment.

Phase B:

A.Y

B.N

C.NG

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第5题

Takeover hostilityAcquisitions of Chinese enterprises by foreign companies are increasingl

Takeover hostility

Acquisitions of Chinese enterprises by foreign companies are increasingly being challenged amidst a growing mood of "economic patriotism."

The former National Bureau of Statistics Commissioner Li Deshui is one of the most prominent of the critics. During last month's session of the National People's Congress(NPC. the country's law-making body, he warned that the acquisition of promising local companies by multinational investors was creating monopolies in a number of sectors.

"If China lets multinationals' malicious mergers and acquisitions go ahead freely, China can only act as labor in the global supply chain," said Li, worrying that Chinese brands and the innovation ability of the national industry would disappear gradually and core parts, key technologies and high value added of China's leading enterprises might be completely controlled by multinationals."

His pointed criticism generated wide media exposure and created fears of a foreign mergers and acquisitions(M&A) threat.

Several factors have contributed to the climate, including national pride, lingering resentment over Chinese oil giant CNOOC's failed US $18 billion bid for Unocal last year, and a protectionist resurgence, partly in response to a growing protectionist sentiment in the United States and Europe against low-cost Chinese exporters.

"These emotions about foreign capital are the last thing we want," says Fei Guoping, director of the China Mergers & Acquisitions Association under the All-China Federation of Industry and Commerce.

"Such unwarranted enthusiasm will only hurt the country's economic development. What we want is to make sane progress in building an M&A review system based on national economic security," says Fei, who is the chief writer of a proposal on such a review system submitted by the federation to the NPC last month.

While the Chinese Government welcomes foreign investment, through M&As or otherwise, the explosive increase in FDI has given multinationals a degree of market power that many Chinese find worrying and potentially damaging to the development of domestic enterprises.

However, if the worry is directed at the scale of foreign investment, it is missing the target, says Fei, who believes the key point is the absence of a law and a government body to look at possible M&As that may hurt national security.

In China, some department regulations involve M&A reviews and several government bodies have the power to look at parts of the M&A cases.

The Ministry of Commerce(MOFCOM)) and the National Development and Reform. Commission(NDRC) are entrusted with the primary responsibility of supervising foreign-related M&A transactions. The former is the principal foreign investment regulator while the latter is responsible for approving the foreign investment project application.

The nature of the target may lead to the involvement of other regulators. The State-Owned Assets Supervision and Administration Commission plays a significant role in transactions involving State-owned enterprises. The China Securities Regulatory Commission, which is responsible for monitoring and regulating China's capital markets, will be involved in transactions linked to listed companies.

There is a higher level of government participation in M&As in China than is typical in other countries, says an official from skincare company L'Oreal, which acquired local brand Mininurse.

"Despite the recent relaxation of foreign investment restrictions, pervasive approval requirements re- main a distinctive feature of M&A transactions in China," says the official, who did not want to be named.

While the complicated M&A review process often scares away potential investors, few efforts are made dur

A.Y

B.N

C.NG

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第6题

Prospecting the Local Oil Market As a part of its WTO commitments, China opened its retail

Prospecting the Local Oil Market

As a part of its WTO commitments, China opened its retail oil market at the end of last year. By December 2006, China will open up its wholesale market, allowing foreign enterprises to sell oil in large quantities and compete head on with China's state-owned oil companies. Foreign oil businesses will be able to build up oil depots, set up wharfs (码头) for shipping and create bigger sales networks. In order to capture as much market share in China as possible, many foreign oil giants have already allocated (拨款) capital to expand their presence in China and devised strategic plans to increase their competitive edge.

Fierce competition is unavoidable as the Chinese oil market opens further. China is now the world's third largest consumer of oil. Currently, the two state-owned enterprises, China Petroleum and Chemical Corp. (Sinopec) and China National Petroleum Corp. (CNPC), dominate the Chinese wholesale market, and foreign companies must get their approval before they can enter local retail and wholesale markets. In addition, the oil import business is monopolized by the following five Chinese enterprises: Sinopec, CNPC, Sinochem Corp., China National Offshore Oil Corp. and Zhuhai Zhen Rong Co. Nevertheless, experts say that as long as WTO commitments are honored, the monopoly in China's oil sector will be broken. Though the market share of foreign companies will likely increase to some extent, experts say that it shouldn't challenge the dominance of Sinopec and CNPC.

Breaking the Monopoly

"After 2006, the monopoly will end. The market will be carved up by three kinds of companies: state-owned wholesale enterprises, foreign enterprises and domestic private enterprises," noted an expert.

Coincidentally, China tried to adopt a relatively free market before 1999. Privateand state-owned enterprises were developing together in the oil retail and wholesale markets. However, by 1998, the oil market became uncontrolled. It fell into disorder with the positioning of too many gas stations and rampant international oil smuggling. With ineffective government management and control, the private enterprises expanded viciously, costing Sinopec and CNPC millions of U.S. dollars income losses.

In May 1999, the State Council decided to rectify (改正) the disorder in the domestic oil market by retaining no wholesalers other than Sinopec and CNPC. Therefore, the wholesale market changed from a free market into one monopolized and controlled by Sinopec and CNPC.

After China's entry into the WTO, the wholesale market was loosened to some extent. In October 2003, Hubei Tianfa Co. Ltd. was granted a license to enter the wholesale market by the Ministry of Commerce, allowed to deal in the gasoline, kerosene, and diesel oil wholesale business. While it marked the entry of a third company in the wholesale market, the license was the first ever granted to a Chinese private enterprise since the market was restructured in 1999. Since then, Chinese private capital has gradually begun to enter the wholesale oil market.

Foreign Competition Ready

The wholesale oil market is going to be opened up in 2006 and the cooperation between foreign oil companies and their Chinese counterparts is beginning to change. The focus of foreign companies is changing from cooperation with Chinese companies to exploration and development. They are now building their own petroleum processing and storage stations and increasing their stake in the sales center.

According to the current local policy, the storage capacity of a wholesaler's oil storage depots must be larger than 4000 cubic meters. Last year, BP Global (British Petroleum) built up the Nansha oil depot as a joint venture with Guangzhou Development Industry Co. Ltd. The Nansha oil depot, currently the largest and most advanced oil depot in Chi

A.Y

B.N

C.NG

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第7题

Top officials from the Ministry of Education announced last week that they will make a sta
ndard plan to calculate the education costs of university students.

Aimed at stopping colleges from overcharging students, the plan has been welcome by the public and the press.

"The late announcement should be congratulated," said an opinion from newspapers. "In the past, university students' education costs have always been an enigma(迷)."

"It is known that many universities are overstaffed, which brought about lots of administrative spending."

"It is obviously unreasonable to include such outlays(costs) into students' education costs. Also, most of the universities are excessively keen on campus expansion, even beyond their economic capability."

"According to a blue paper presented by the Chinese Academy of Social Sciences, China's institutes of higher learning have so far borrowed a total of 150 to 200 billion yuan in loans front banks."

"Will such an large sum of debt be taken for students' education expenses?"

"Even if education costs are accurately calculated, another problem emerges: How to share them between government and individuals?"

"According to Yuan Guiren, vice-minister of education, the proportion (比例) shouldered by an individual student should be kept within 25 per cent."

"However, the sharp increase of tuition fees over the past two years, indicates the proportion has not been strictly implemented. It is estimated that university students' pay are half of their education costs."

Which of the following is the best title for this article?

A.The Problems of Chinese Universities.

B.Chinese Students Pay for Universities' Expansion.

C.A Standard Plan.

D.How to Share Between Government and Individuals.

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第8题

News from China Daily in February, 1989China recorded fewer traffic accidents in 1988 than

News from China Daily in February, 1989

China recorded fewer traffic accidents in 1988 than in 1987 and a lowered trend(趋势) continued for January this year.

The traffic accidents in 1988 totalled 270,000, 20,000 fewer than 1987.

But the death roll (人数) for 1988 was 54,000, an increase of 1,000 from the previous

year. The increase was not as slow as that in recent years.

The ministry(部) spokesman said in Beijing yesterday that 3,821 persons were killed in highway traffic accidents last month, a drop of 14.68 per cent from January 1987. He also said there were 21,201 traffic accidents in the first month of the year, 10.1 percent fewer than January last year and 11,700 people injured.

The traffic accidents involved (包括) an economic loss worth 27.32 million yuan (about $7 million).

Economic Daily said 170,000 persons were injured in traffic accidents in 1988, 10,000

fewer than in 1987.

The total traffic accidents in 1987 was ______.

A.270,000

B.20,000

C.21,201

D.290,000

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第9题

After 1949 the Ministry of Public Health was responsible for all health-care activitie

s and established and supervised all facets of health policy.Along with a system of national,provincial, and local facilities,the ministry regulated a network of industrial and state enterprise hospitals and other facilities covering the health needs of workers of those enterprises.In 1981 this additional network provided approximately 25 percent of the country's total health services.

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第10题

Early Maori adapted the tropically based east Polynesian culture in line with the challe
nges associated with a larger and more diverse environment, eventually developing their own distinctive culture.

The British and Irish immigrants brought aspects of their own culture to New Zealand and also influenced Maori culture. More recently American, Australian, Asian and other European cultures have exerted influence on New Zealand.

New Zealand music has been influenced by blues, jazz, country, rock and roll and hip hop, with many of these genres given a unique New Zealand interpretation. Maori developed traditional chants and songs from their ancient South-East Asian origins, and after centuries of isolation created a unique "monotonous" and "doleful" sound.

The number of New Zealand films significantly increased during the 1970s. In 1978 the New Zealand Film Commission started assisting local film-makers and many films attained a world audience, some receiving international acknowledgement.

New Zealand television primarily broadcasts American and British programming, along with a large number of Australian and local shows. The country&39;s diverse scenery and compact size, plus government incentives, have encouraged some producers to film big budget movies in New Zealand.

The Ministry for Culture and Heritage is government’s leading adviser on cultural matters. The Ministry funds, monitors and supports a range of cultural agencies and delivers a range of high-quality cultural products and services.

The Ministry provides advice to government on where to focus its interventions in the cultural sector. It seeks to ensure that funding is invested as effectively and efficiently as possible, and that government priorities are met.

The Ministry has a strong track record of delivering high-quality publications, managing significant heritage and commemorations, and acting as guardian of New Zealand’s culture. The Ministry’s work prioritizes cultural outcomes and also supports educational, economic and social outcomes, linking with the work of a range of other government agencies.

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第11题

European unemployment rates are double the U. S. level, placing pressure on European p
oliticians to come up with innovative ways to create jobs. Increasingly European governments are turning to multinational corporations with incentives linked to the number of jobs the company will create by investing in the country. The more jobs a multinational manufacturer promises, the more subsidies the government will provide.

Britain, the leader in this race with 10 percent of all foreign investment in the European Union, paid $48,600 for each of the jobs created in 1996 when LG, a south Korean firm invested in an electronics complex. According to Britain's Trade and Industry Ministry, more than 285,000 jobs were created or preserved through foreign investment from 1994 to When countries such as China and Mexico offer low-cost locations for production, industrialized nations feel compelled to counter with other incentives. Governments use subsidies to induce investment not only from auto firms but also at even greater cost. from high-tech computer and electronics companies. With countries engaged in a bidding war for multinational investment, smaller nations face the prospect of being outspent by bigger competitors. Despite the high cost of the handouts, no country wants to miss the opportunity to gain job growth and modernized industry, especially when plagued by high unemployment.

26. European governments hope to lower unemployment rates by ().

A. placing pressures on Europeans companies

B. getting loans from banks

C. creating more jobs

27. The more jobs the multinational manufacturers promise, the more () European governments will provide.

A. money

B. jobs

C. profit

28. Britain is the leader in ().

A. investing money in international market

B. spending time to look for partners abroad

C. attracting foreign investment

29. Government subsidies have attracted investment relatively easily from ().

A. car companies

B. low-cost industries

C. Gas companies

30. Every country hopes to gain job growth and modernized industry, especially when plagued by high unemployment. 'Plague' here means ().

A. a kind of disease

B. causing continual trouble

C. spreading death

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