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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (3329)	7/7/2004 12:29:54 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

China to adopt auto emission standard equal to Euro III www.chinaview.cn 2004-07-07 15:44:56 BEIJING, July 7 (Xinhuanet) -- China's environmental watchdog has finished the drafting of an auto emission standard equivalent to Euro III and is expected to adopt it nationwide in 2008. Wang Jian, an official of the air pollution department of the State Environmental Protection Administration (SEPA), acknowledged that the draft was undergoing the final examination of an expert committee. But he declined to disclose the date when it will be made public, but said the new standard will be adopted nationwide in 2008. Wang also said SEPA is negotiating with the country's oil gurusto produce low-sulfur gasoline to match its Euro III plan. Since China emerged as the fourth largest manufacturer and the third largest consumer of automobiles in 2003, auto emission has overrun industrial dust to become the number one urban air polluter. According to SEPA's estimate, it will account for 79 percent of urban air pollution in 2005. Low quality gasoline deteriorates the situation caused by soaring numbers. Compared to that in Europe and the United States,it contains three to eight times more sulfur, a chemical producing sulfur dioxide and acid rain in turn after burning. Last Thursday, China adopted an auto emission standard equivalent to Euro II, which requires a 30.4 percent cut of CO, a 55.8 cut of HC and NO from the Euro I currently applied in China. Enditem news.xinhuanet.com

To: RealMuLan who wrote (3329)	7/20/2004 11:46:42 AM
From: RealMuLan	Read Replies (2) \| Respond to of 6370

Some details about how foreign/joint adventure companies in China dodgeing income tax. For some companies that assemble products in China, they artificially increase the price for imported component materials, and deliberately push down the sell price for export. For example, a good tape recorder is sold for 580 Yuan (about US$70) in China, while the foreign/joint adventure company reports to the Chinese tax agency for only 25 Yuan for exporting price. A 21'' color TV set sold for about 4,700 Yuan in China, while the "reported" exporting price is only bet. 50-100 Yuan a set. As a result, these companies report huge revenue "loss" to Chinese revenue agency, so do not pay any tax. While on the other hand, their parent companies got all the profit and more. If this case happens to a joint-adventure company, then the Chinese owner will also have to bear part of the "loss" by selling their share of the company stocks. In 2001, 41% of joint-venture companies in China "lost" money. In Jinlin province, 98% of joint-venture companies "lost" money. In 2003, 62% of joint-venture companies in TianJin "lost" money. There is one joint-venture paper manufacturer, during the 7 years of joint-venture history, the revenue "loss" accounted for >100 million Yuan. As a result, the Chinese side had to sell almost all their share of company stocks. China will be better off WITHOUT this kind of "investment"!