energy vehicles (NEV), sales of NEVs reached 111,000 in March, up 100.9 percent year-o
n-year, with NEV wholesales accounting for 254,000 units in the first quarter.
CPCA predicts a 40 percent increase in NEV sales to 1.7 million
units in 2019, based on these first quarter figures.
As China began to cut manufacturing sector VAT from 16 to 13 percent on April 1, som
e imported and high-end vehicle brands lowered prices to boost sales nationwide.
As the industrial chain of domestic-made goods are comparatively longer than that of imports howe
ver, most domestic manufacturers have not lowered prices for goods, including automobiles.
“Consumers should not expect too much on price cuts of automo
biles, but choose vehicles based on demand and affordability,” CPCA said.
Super Rice project is geared to guarantee stable yields while beefing up crops’ resistance against drought, flooding and diseases,” Li said.
“Thus, farmers are able to save a large amount of resources, such as fertilizers or irrigation water, to fight those issues,” he added.
The sustainability of the approach is welcomed by Philippine agricultural researchers and farmers, according to Jose
Yorobe, a consultant with the International Rice Research Institute in the Philippines. He attended a meeting in Beij
ing on Tuesday, along with dozens of representatives from participant countries, that marked the project’s conclusion.
“Because of climate change and population growth, developing countries are now pressured to increase rice prod
uctivity,” he said. “Some high-yield modern varieties are still vulnerable to inclement weather, pests and disease.”
construction, and other industries will be lowered from 10 to 9 percent, while the lowest bracket rate will remain unchanged at 6 percent.
In order to reduce tax burdens for all industries, the government also adopted supporting
measures, such as increased tax deductions for producer and consumer services.
Gao Peiyong, vice-president of the Chinese Academy of Social Sciences, told China Securities Journal that VAT reduction
will trigger a domino effect through deduction mechanism, ultimately benefiting economic and social development.
The first day of rate reduction saw industries involved in oil,
electricity, natural gas, iPhones and automobiles all cutting their price.
According to data compiled by Chinanews, the maximum retail prices of gasoline and diesel fell 225 ($33.49) and 200 yuan
per ton, respectively; railway sector dropped or canceled some freight fees, expecting to give up 6 billion yuan to enterprises.
Prices for iPhone XS and iPhone XS Max declined as much as 500 yuan,
and iPhone XR, iPhone 8 and iPhone 7 also had their price fall by 300 yuan.