Latest News
  • 07 05 2018    China to cut VAT tax rates for manufacturing and other sectors (BUSINESS)

    China will lower the value-added tax rate on the manufacturing, transportation, construction, telecommunication and agricultural sectors from May 1. China has vowed to cut levies to lighten the tax burden of individuals and businesses as it looks to boost domestic demand in a year when economic growth is projected to slow from 2017. Beijing is pursuing what it describes as a proactive fiscal policy to help spur the economy while keeping monetary policy neutral and prudent in the face of rising risks in the country’s complex and leveraged financial system. The VAT cuts are expected to save 240 billion yuan ($38 billion) in taxes this year, according to the state radio report, which cited China’s State Council, on Wednesday. The tax cuts for the manufacturing and transportation sectors were flagged by Premier Li Keqiang earlier in the month but no date for implementation was given at the time. At that time, the finance ministry said in its 2018 work report that it expects tax cuts to exceed 800 billion yuan this year. The tax rate for the manufacturing sector will be cut to 16 percent from 17 percent, while the rate for other industries will be lowered to 10 percent from 11 percent. “The tax cut is a positive move,” according to a Goldman Sachs research note. “However, the magnitude of the cut is relatively small and is already factored into the official fiscal budget.” China switched to a VAT system in 2016 from a decades-old business tax, saving businesses hundreds of billions in taxes. The government earlier this month also said it will implement personal income tax reforms this year and extend a preferential tax policy for new energy vehicle purchases. “We expect details of other tax cut measures to be announced in the coming weeks, including the adjustment to personal income tax in terms of higher minimum threshold and exemptions for some education and health expenses” Goldman said. ($1 = 6.2915 Chinese yuan)  
  • 30 04 2018    Meet in Beijing in a month-long arts festival with Italian artists (SOCIETY)

    The 2018 Meet in Beijing Arts Festival will lift its curtain in a few days with a symphony concert led by famous Chinese conductor Tan Lihua and his Italian counterpart Andrea Molino. It will feature both classical Chinese and Italian melodies. The concert will usher in a month-long feast of arts filled with exhibitions, dances, concerts, as well as a gourmet festival from Italy, as Italy is this year's featured country.  
  • 23 04 2018    "Intermediate" capitalism calls for attention (SOCIETY)

    For the development of intermediate capitalism, we must focus on some basic issues. Therefore, innovations need to be made in four areas. The first is the new mixed industry, which will become a characteristic brand of Italian industry in the next few years. With the support of a strong supply chain (including machinery, agricultural products, etc.), Italy will have the sound base for the development of this industry in the next two decades. This new mix industry can not only solve the problems of environmental sustainability but also be closely linked to the material civilization of the residents in large cities (green economy, smart cities, etc.), and the industry also cares much to the physical and mental health and well-being of man (for example, life sciences). It’s an important theme, but rarely discussed in Italy. It should become a new form of service industry under "Made in Italy". The second industry chain is to promote the establishment of a new welfare society. The extension of corporate benefits in the field of practice is linked to the reform of the regional social welfare system and intertwined with increasingly popular private welfare insurance. The third is that the ways of new mixed industry with the characteristics of Italian capitalism mentioned previously successfully achieving the “4.0” of technology and successfully completing its own metabolism. There is a belief that the real challenge in managing the development and extension of the scientific and technological revolution lies in how to make it a real from industry 4.0 to corporate 4.0 to social 4.0. Digital transformation should not be trapped in the company's walls but should speed up the ability to integrate users and customers through platform mechanisms, including the company's ability to create value networks. Final point lies in the process of modernization pointed out by intermediate capitalism and the new forms of growth of the "middle society" and the "reconciliation" of interests. The most important thing is that the new generation of functional self-government collectives (colleges, incubators, science and technology parks) will be able to accompany the growth of the new mixed industry, relying on global major technological innovations to develop together. Therefore, whether new-style decision makers can go along with the process of "industrialization" of regional capitalism is the key. At the same time, how to maintaining its own major competitive advantage is also fundamental to be a "high-tech enterprise giant." This requires thoughtful and delicate considerations and operations in society and policies, but it is unavoidable.
  • 16 04 2018    The "heart" of a nuclear fusion reactor that brings 2 billion returns is built in Italy! (PRESS)

    A mini-reactor that will be broken ground in Frascati, Italy in November this year will fully demonstrate the feasibility of using nuclear fusion to produce clean, safe and inexhaustible energy. The reactor will have a heart made in Italy! This is an international project with an estimated investment of 500 million euros and a return of 2 billion. Companies from Italy and their supply chains are at the forefront of the technologies necessary for nuclear fusion (from electromagnets to the production of precision machinery) and are preparing to take the lion’s share. The involving Italian company is in the International Thermonuclear Experiment Reactor (Iter) project - the largest reactor will be built in France in 2025, while the Frascati reactor in Italy is the main pillar of the project – has won more than 1 billion contracts standing out in competitive bids for technical construction.  
  • 29 03 2018    Sea water becomes drinkable with Italian research (PRESS)

    The salt water of the sea can in fact be made "sweet" (desalted) with the use of a membrane, which is just like a "sieve" separating the water molecules from the dissolved salts. The energy required for this separation process can be provided by a heat source, an electromagnetic field or by the hydraulic pressure exerted by a pump. In particular, Italian-American research (the Energy Department (DENERG) of the Turin Polytechnic, in collaboration with MIT and the University of Minnesota.) has focused on the process of reverse osmosis for water desalination, which is based on the ability of some porous materials to be traversed only by water under pressure, thus separating it from salt. The researchers have been able to understand the mechanisms that regulate the transport of water on one side (salt water) to the other (fresh water) of the membrane. In fact, the MIT laboratories have experimentally measured the ability of the membranes to transport the water, that is, the diffusion coefficient of the infiltrated water. These membranes are composed of zeolite, a material composed of a dense (and regular) network of pores with dimensions below the nanometer (less than one billionth of a meter). The discovery has an immediate impact in the manufacture of innovative membranes for desalination. The number of pores that can be infiltrated on the surface has increased significantly, reducing the surface resistance of the transport process. The researchers estimate that membranes created with similar criteria have the possibility to reach permeability up to 10 times higher than the current ones, thus reducing the operating costs necessary for the desalination process. This new understanding of surface and volumetric transport phenomena also open up new avenues in other applications where nanoporous materials are used: from sustainable energy technologies (eg adsorption thermal batteries) to the removal of pollutants in water (eg through nanometric filters), and to nanomedicine (eg control release of drugs).