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(Yicai Global) March 4 -- China's top securities regulator published regulations for Shanghai's new science and technology innovation board on March 1. The new trading venue pilots a registration-based listing system, will allow non-profitable firms to go public, and enables online applications and approvals.
US President Donald Trump announced a delay to a scheduled March 1 tariff hike on Chinese goods as trade talks made a breakthrough after seven rounds. The rate of additional duty will remain at 10 percent until further notice, the United States Trade Representative's office said on March 2.
The Beijing-Shanghai High Speed Railway, a unit of state-owned China Railway, announced preparations on Feb. 26 for an initial public offering on the mainland stock market. The line has transported 940 million passengers since June 2011 when it went into operation and its high-speed trains ran at 350 kilometers an hour along the route on Sept. 21, 2017. Profit totaled CNY31.2 billion (USD4.7 billion) between 2014, when the firm moved into the black, and 2017.
Global index provider MSCI will increase the weighting of mainland Chinese equities in its indexes from 5 percent to 20 percent, it said on March 1, Beijing time. Analysts estimate the move will attract about CNY450 billion (USD67 billion) in additional funds to the A-share market.
China's cabinet published the implementation report proposed in last year's Government Work Report on its website on March 2. Gross domestic product rose 6.6 percent last year in line with a targeted 6.5 percent. Personal and corporate tax cuts amounted to CNY1.3 trillion (USD150 billion) in 2018, achieving the goal of "reducing CNY800 billion for firms and individuals and CNY300 billion of non-tax burden for market players."
China's box-office receipts exceeded CNY11 billion in February, according to the China Movie Data Information Network. Takings topped CNY10 billion in just 22 days, six days fewer than last year. More than 129 million people went to the cinema last month, while the eight films released made CNY5.8 billion in total, accounting for 53 percent of all receipts.