China Aviation Industry Corp.

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China has abolished fuel surcharges on tickets for domestic flights starting from January 15. The move follows a 74 percent cut of flight fuel surcharges last month. China's top economic planner said that surcharges may be reinstated depending on fluctuations in the jet fuel prices. At the same time, the government also announced that it will trim fuel prices across the country. Prices of gasoline and diesel were cut by 140 yuan per ton and 160 yuan per ton,louboutin, respectively. However,Abercrombie and Fitch france, China's domestic refined oil price remains around 10 percent higher than the international price.
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In another effort to encourage car sales,Louboutin chaussure, the government will cut the sales tax on vehicles with engines smaller than 1.6 liters to 5 percent,louboutin pas cher, down from 10 percent,Abercrombie and Fitch paris, between January 20 and December 31. The stimulus package also includes measures to boost the development of alternative-energy vehicles, with electric cars leading the way. The government has promised to grant subsidies to the development and promotion of electric cars. This is the first time that the Chinese government has layed out a clear roadmap for the development of alternative-energy vehicles.

A source from China Eastern Airlines said the company will sell 35 percent of its stake in Joy Air to alleviate financial pressures. In a statement, China Aviation Industry Corp. (AVIC),christian louboutin pas cher, China Eastern's partner in Joy Air,christian louboutin pas cher, said the company is willing to increase its stake in the Xian-based carrier. The company source said that China Eastern may drop some other planned investments, including its 33 percent stake in Tibet Airlines. China Eastern earlier forecasted a full year loss in 2008.


The government January 14 announced a policy package to bolster the country's steel and auto sectors, which have been affected by the global economic slowdown. The government announced that it will tighten supervision on steel mills' capacity expansion this year as the market is facing oversupply. China will not approve new steel capacity growth in the coming year. At the same time, the government is also looking into how to offer subsidies and flexible export taxes to boost the steel market while pushing forward technical innovation and merger in the sector.

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said he was not informed about the talks

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56 percent of its product was sold to China.