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Microcap & Penny Stocks : China stocks CIND,CHRB.
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To: George Zhou who wrote (5)6/3/1996 11:37:00 PM
From: David You   of 303
 
Chinese government gave special tax waiver to a company owned or jointedly owned by foreign companys. Something like 2 years no tax totally, then half tax for another 3 years.( not exactly as I states here, but like) This mothod attract some foreign capitals, but it is unfair to local companys and companys owned by foreign companys longer than that special preferred time period. So there are some practice like opening a joint company for two years then closing it and open a new one, or a local company jointed with a fake foreign company to avoid tax.

So the chinese government decided they will treat all companys with the same policy, but the dead line is april 1th, 1996. If you signed your contract before that, you still got the preferred tax waiver.

My friends had warned me before I bought those stocks about that there are great risk because It offen happens to some chinese companys that the company makes money but not the share holders. Anyway I still think it is a good buy, that's why I am here.

david
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