Tax evasion probe

THE government will launch a tax evasion investigation into the country’s film and television industry, the tax bureau said in a statement Sunday.

The State Administration of Taxation (SAT) has asked local bureaus in Jiangsu Province, among others, to carry out investigations. “If violations of tax laws and rules are found, they will be dealt with in accordance with the law,” said the SAT. China’s cinema market is worth US$8.6 billion.

Economic zones

THE country’s national economic development zones reported steady trade growth in 2017, according to the Ministry of Commerce.

The trade volume of the 219 national economic development zones reached 5.6 trillion yuan (US$875 billion) last year, up 17.5 percent year on year, according to ministry spokesperson Gao Feng.

Syndicated loans

THE country’s banking and insurance regulator said that it has issued draft guidelines on banking institutions’ management of syndicated loans.

The rules are aimed at containing credit risks stemming from rising corporate debt levels, the regulator said in a statement on its website.