China must spend at least 41.6 trillion yuan ($6.8 trillion) over two decades to integrate rural workers living in cities and towns so the country realizes benefits of urbanization, a United Nations report said.
China’s plan to set up markets to trade emissions will make it second only to Europe in efforts to put a price on pumping carbon into the atmosphere. For cities choking on the nation’s smog, expect little relief.
Hong Kong stocks slid with a gauge of Chinese companies listed in the city erasing yesterday’s gains. NetDragon Websoft Inc. tumbled after Baidu Inc. agreed to buy a unit from the game developer. Solar shares surged on China’s plan to boost generation capacity fivefold.
U.S.-listed Chinese stocks fell for a second day, led by Baidu Inc. and Soufun Holdings Ltd, on concern policy makers won’t do enough to blunt an economic slump as the government keeps restrictions on the housing market.
China may introduce an environment protection tax by the end of 2015, the official Xinhua News Agency reported today, citing Jia Kang, head of the Chinese Finance Ministry’s research institute for fiscal science.
China’s benchmark stock index rose from a one-month low on speculation the government will take more fiscal measures to support economic growth, overshadowing concern that the government will keep property curbs next year.