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

To: Moominoid who wrote (5304)	8/7/2005 12:35:59 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

Here is some Chinese news: News Corp takes advantage of the regulation loopholes in China, illegally smuggled in hundreds of News Corp. spec. satellite decoders for numerous of Western TV Channels, and sold the deputy right directly to several dozens of local Cable TV stations in China, the cost is bet. $10k and $30k a year for each. They have done this for several years without Chinese officials knowing, and a lot of these profit have returned to News Corp WITHOUT even paying any tax to Chinese gov. (They refuse to give official commercially used receipt). They preferred those TV stations directly wire the money into their company's bank account in the US or other foreign locations. Thanks Heaven that China still has restrictions so those Chinese local companies CANNOT open a foreign currency bank account. As a result, News Corp. asks a Chinese company as the middle man (this company is currently under investigation and closed). And now this middle man company has taken News Corp to the court, suing the company owes them 1 million Yuan in fees. And according to this middle man company, News Corp makes >$1 million US$ profit from these illegal sales each year! News Corp just replaced the top executives for their Asian Branch two days ago. The investigation is now undergoing, the financial amount involved is big, and also joined by the Chinese customs. If I were the Chinese gov., I would punish them so hard and make them remember. news.hexun.com