BEIJING, May 26 (Xinhua) -- The following are the highlights of China's key business news from the past week:
FOREX SETTLEMENT DEFICIT
China's commercial banks saw a net forex settlement deficit of 73.7 billion yuan (10.7 billion U.S. dollars) in April.
This widened from a deficit of 41.2 billion yuan reported in March, but was smaller than a deficit of 101.3 billion yuan in February.
SEEKING COMPENSATION FROM BOEING
The three biggest airlines in China have all formally requested compensation from the Boeing Company over the long-period grounding of the 737 Max aircraft.
Air China, China Southern Airlines and China Eastern Airlines have also sought payouts due to delayed delivery of previously ordered new aircraft.
TAX PREFERENCES FOR IC, SOFTWARE FIRMS
China has rolled out specific tax preferences for integrated circuit (IC) design and software companies.
IC design and software companies can enjoy the preferential policy from the profit-making year until Dec. 31, 2018, as the country starts tax calculation and collection for 2018.
From the first to the second year, the corporate income tax will be exempted, and the third to fifth years, companies will be levied at half the statutory tax rate of 25 percent.
