Shanghai, China’s financial hub, signaled the delay of its international board two months after the city’s stock exchange said it was ready to allow overseas companies to list in the world’s third-biggest equity market.
The Shanghai city government is working with the tax authorities and Ministry of Finance to work out details for the implementation of reforms to value-added tax, Mayor Han Zheng said at a briefing today.
The Shanghai government will compensate victims of a Nov. 15 high-rise fire that killed 58 people, a day after municipal authorities took responsibility for lax safety supervision that led to the blaze.
Shanghai prices are “very high” and excessive investment and speculation activities in the property market have “seriously distorted” the fundamentals of the housing market, the city’s mayor Han Zheng said at a press conference yesterday.
Shanghai Mayor Han Zheng said the city aims to cut emissions and reduce energy consumption by getting rid of outdated production facilities and stopping approval of environmentally harmful projects, Shanghai Daily reported today.