{"id":17758,"date":"2016-05-06T17:45:18","date_gmt":"2016-05-06T09:45:18","guid":{"rendered":"http:\/\/westchina.austcham.org\/?p=17758"},"modified":"2016-05-06T17:45:18","modified_gmt":"2016-05-06T09:45:18","slug":"fstp060516","status":"publish","type":"post","link":"https:\/\/westchina.austcham.org\/?p=17758","title":{"rendered":"Financial Services Talking Points 06-05-2016"},"content":{"rendered":"

\"FinancialsTPB\"<\/a><\/p>\n

Small businesses welcome cuts to company tax rates
\n<\/strong>The recently released Australian budget includes cuts to company tax and an inclusion of businesses with an annual turnover of under 10 million dollars in the definition of \u201csmall businesses\u201d. NAB Business\u2019 Executive General Manager, Cindy Batchelor, believes that as 97% of Australian businesses are considered small businesses, the greater cash flow resulting from this extension will allow for more company expansion, and calls the changes \u201csignificant\u201d. Treasurer Scott Morrison also announced that small businesses with less than 2 million dollars in annual revenue will have their tax rate cut to 27.5%, and included in these changes is a promise that tax rates will continue to decrease as income thresholds increase. Click here<\/a> for the full article.<\/p>\n

Chinese central bank reveals 2016 prioritized tasks
\n<\/strong>A summary of the People\u2019s Bank of China\u2019s (PBOC) prioritized tasks has recently been revealed. PBOC, China\u2019s central bank, has highlighted a focus on decreasing business costs, cutting stockpiles and overcapacity (particularly addressing the overcapacities of coal and steel) and reducing leverage. Additionally, the central bank intends to continue giving differentiated housing loan policy to separate Chinese regions on the basis of their current market conditions. Collateral for rural residents and loans centered around agriculture are also prime focuses, with a view to boosting development in rural China, and plans to address poverty and the risks of Internet financing have also been introduced. Click here<\/a> for the full article<\/p>\n

Top Chinese economic planner promises stabilization in private investment<\/strong>
\nAccording to the Chinese National Development and Reform Commission, measures must be taken to stabilize private investments. This announcement follows a decrease in growth to 5.7 percent year on year in Q1, although private investment otherwise generally remains quite stable. The recommendations that the National Development and Reform Commission made include: more open market access, a decrease in red tape restrictions for private investors, and allowances for private capital to enter fields that are open to foreign capital, among others. These announcements were made at a meeting convened in concert with the All-China Federation of Industry & Commerce. Click here<\/a> for the full article<\/p>\n

Despite housing slump, Australian construction sector recovering<\/strong>
\nAfter five months of a slump in the Australian housing sector, growth has been recorded in construction by the Performance of Construction Index (PCI). Engineering construction has similarly experienced growth \u2013 its first in nearly two years \u2013 which has been attributed to increased transport infrastructure construction, especially in New South Wales. Although employment in construction has risen for the first time in three months, this does not translate into increased building activity \u2013 house building figures have decreased for the third consecutive month, and the building rate of apartments has also contracted. Click here<\/a> for the full article.<\/p>\n","protected":false},"excerpt":{"rendered":"

Small businesses welcome cuts to company tax rates The recently released Australian budget includes cuts to company tax and an inclusion of businesses with an annual turnover of under 10 …<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[32,26],"tags":[],"class_list":["post-17758","post","type-post","status-publish","format-standard","hentry","category-financial-services","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=\/wp\/v2\/posts\/17758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17758"}],"version-history":[{"count":2,"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=\/wp\/v2\/posts\/17758\/revisions"}],"predecessor-version":[{"id":17764,"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=\/wp\/v2\/posts\/17758\/revisions\/17764"}],"wp:attachment":[{"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}