The Chief of Machinery Industry Economic and Management Research Institute, Sun Baihai, stated that the government should realize “national products first” policy, allowing China auto brands to have a better position in government auto team, Beijing Morning Post reported.

Cheap labour and low start-up costs attract foreign firms to establish new operations in Chengdu but the city still has a lot to do to bridge the gap with East China, The Standard reported.

Experts say that property tax reform may not curb the overheating real estate market overnight, reports Shanghai Securities Journal. The market needs to be careful and expects that tax reforms do not lie with merely one tax item but the changes of overall tax revenues and structure.

China faces “huge challenges” in implementing new tax reforms to cool down the overheating real estate sector, said Zhang Xiaopu, Director of the China Banking regulatoru Commission’s (CBRC) supervisory rules and regulatory department, XFN Asia reports.

France UNITA Insuarnce Group at Chengdu cooperates with China Agricultural Bank and launch house loan insurance in Chengdu. This is the first house loan insurance policy offered by foreign insurance company in Sichuan, breaking the domination of the national insurance companies in the area, Chengdu Daily reports.

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Industry analysts say that the company faces stiff competition in the southern China market; unlike its situation in Shanghai and Beijing, it does not occupy a clear position of strength in Shenzhen and Guangzhou.

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