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.
China’s passenger-vehicle market had its strongest start since 2010, while sales in India shrank for a third month, illustrating the contrast in automobile demand in the world’s two most populous nations.
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.
China’s real estate prices rose for a 19th month in December, raising concerns that the government will expand curbs to limit the risk of asset bubbles in the world’s fastest-growing major economy. Property stocks fell.