JD Logistic, the logistics arm of the Beijing-based tech heavyweight JD
.com, will cancel the basic salary for delivery staff , CEO and Chairman Liu Qiangdong said i
n response to arguments on the company’s salary adjustments in an internal email sent on Monday.
JD Logistics lost over 2.3 billion yuan ($342.9 million) in 2018, its 12th consecut
ive year to lose money. If the situation continues, Liu said, the company would only last for two more years.
If internal settlements are deducted, JD Logistics lost more than 2.8 billion yuan last year.
The main reasons for the loss are few external delivery orders and high internal costs, Liu said.
The company has only two choices, according to Liu: one, increase external delivery orders to promote external inco
me growth; the other, reduce staff members’ well-being to the level of other express companies.
Reducing fund ratios to average levels and canceling the basic salary a
ims to encourage couriers to get more external delivery orders and increase revenue.
convicted of incitement to commit public nuisance.
Judge Johnny Chan Jong-herng handed down the verdicts. The court will h
ear defendants’ petition in the afternoon. The date for sentencing has not yet been revealed.
According to the Crimes Ordinance and the Criminal Procedure Ordinance, each charge carries up to seven years’ imprisonment.
The illegal Occupy protests saw massive sit-ins on Tim Mei Avenue and Fenwick Pier Street – major thoroughfares linking Wan Cha
i and Central – between Sept 28 and Dec 11 of 2014. It put the city in a standstill for 79 days.
China will lower the tax rates on a range of goods brought or mailed b
y individuals into the country, including food, medicines, textiles and information technol
ogy products, the Customs Tariff Commission of the State Council announced Monday.
Starting Tuesday, the tax rate on inbound articles included on the No 1 taxable
item list, which includes books, computers, food, furniture and medicines, will be reduc
ed to 13 percent from the previous 15 percent, the commission said in an online statement.
Some medicines that are currently subject to a 3-percent import value-added tax r
ate, including anti-cancer drugs and medicines for rare diseases, will enjoy favorable tax rate.
insk and covering an area of 91.5 square kilometers, is the first special economic area in Bela
rus and the largest intergovernmental cooperation project between China and Belarus.
The industrial park is stepping up efforts to attract more global investors, with 43 companies registered by the end of February.
Among the 43 companies, 26 are from China, 10 from Belarus, and seven from other countries, like the United States and Ru
ssia. The companies have signed agreements to make total investments of more than $1 billion in the park.
The China-funded Djibouti International Free Trade Zone, which started construction in January 2017, opened on July 5, 2018.
Covering an area of 48.2 sq km, the zone is operated by a join
t venture with investment by Chinese enterprises, including China Merchan
ts Holdings and Dalian Port Corp Ltd, as well as the Djibouti Ports and Free Zone Authority.
More than 20 enterprises from the commerce, logistic, processing sectors have signed letters of intent to re
gister with the FTZ, as infrastructure in the first phase of the FTZ, which covers an area of 6 sq km, has been basically completed.
The FTZ is expected to become a crucial junction linking other African countries involved in the Belt and Road Initiative, and
make Djibouti, the small northeast African country, a marine logistics hub linking Africa, Asia and Europe.