Tax Evasion in Beijing’s Second-hand Housing Market

The government has introduced various measures， such as a capital gains tax of 20 percent on sales of second-hand residential properties， to try to cool down the market. However after the report about the illegal tax evasion in Shenzhen was spread widely， Economy Nation Weekly found that Beijing’s second-hand housing market is also bothered by tax evasion. As long as policymakers fail to introduce further restrictions， tax evasion will become a new profit-making means for some real estate agencies.

Official Vehicles Procurement Standard to Be Introduced

The new official vehicle procurement standards will be introduced in the near future. Due to the central government’s determination to improve officials’ working style and strict policies to curb the use of public funds， the official vehicle procurement standards will be further reduced. In February 2012， China’s Ministry of Industry and Information Technology posted a list of 412 vehicles that are likely to be approved for purchase by government agencies. Most of the vehicles listed will be supplied by domestic manufacturers.

Alibaba Buys 18 percent Stake in Weibo

Alibaba Group announced that it has bought an 18 percent stake in China's largest Internet portal Sina’s microblogging service Weibo for about 586 million U.S. dollars， valuing Weibo at around 3.26 billion dollars. This deal was seen as a beneficial move for both sides： Sina need the deal for the valuation of Weibo and the promotion of its stock price； Alibaba could drive web traffic to its e-commerce platform and provide more advertising revenue to Weibo， and also make preparation for its incoming IPO.

Interview with Chas W. Freeman

From his beginnings as Nixon’s interpreter on the president’s first trip to China， throughout his 30-year career in the Foreign Service， and in subsequent decades， Chas W. Freeman， has been deeply involved in the U.S.-China relationship. Freeman discussed his experiences in his recently released book Interesting Times： China， America， and the Shifting Balance of Prestige. Forty years after Richard Nixon visited China in 1972， U.S.-China relationship is currently in a place few could have imagined in 1972 and faces many difficult challenges in the coming years.