Hello Elmat, Stopping worrying about Hong Kong. I am not sure who pays salary tax, as any self-respecting boss would surely only take 1 dollar of salary per annum, and mucho dividends which are tax free.
BTW, there should be some globalizing trucks coming your way soon (or where you were, and where you are):
biz.scmp.com
<<Friday, February 24, 2006
Truck firm wins US$350m Iran order
MARK O'NEILL in Shanghai and KANDY WONG
A state-owned company in Shandong province said yesterday it had won the biggest single export order for a Chinese carmaker worth US$350 million.
China National Heavy Duty Truck Corp signed a contract to sell 10,000 of its HOW-7 vehicles to Iran and plans to set up a joint-venture plant there, according to a company spokesman.
China's vehicle exports last year exceeded imports - 173,000 versus 162,000 - for the first time, although the value of imports was three times that of exports.
Of the exports, passenger cars accounted for 31,000 units, up 233 per cent over 2004, and 97,000 were trucks and special-use vehicles. Most went to developing countries including Iran, Algeria, Syria, Jordan and Vietnam, as well as Russia.
The spokesman said China National exported 4,500 heavy-duty trucks last year to Southeast Asia, Iran, the Middle East and neighbouring countries, and planned to raise that to 40,000 by 2010.
"The price and performance of our HOW-7 is very suitable for the Iranian market and terrain," he said, but added the company could not yet announce the investment amount and its joint-venture partner.
Based in Jinan, China National is one of the country's biggest makers of heavy-duty trucks, with sales of 45,000 vehicles last year, accounting for about 18 per cent of the domestic market. It targets 60,000 units this year and 125,000 by 2010.
Mainland firms are aggressively exploiting the Iranian market, which many western manufacturers shun because of the hostility of the US government.
China carmaker Great Wall Auto says it is targeting export sales of 30,000 units this year, with 2008 overseas sales possibly accounting for 50 per cent of its business. Board secretary Bai Xuefei told the South China Morning Post yesterday exports last year of 14,000 units made up about 33 per cent of total sales of 57,000 vehicles. Last year's total sales were 20 per cent higher than in 2004. "The main reason for growing sales is the opening up of overseas markets," he said.
Great Wall Auto, a maker of pick-up trucks and sport-utility vehicles, now exports mainly to Russia and the Middle East but is eyeing Europe. "There's a chance for Great Wall to enter the Europe car market this year. In the long run, carmakers will get a share in the European and US markets," Mr Bai said, adding pricing was key.
"Chinese cars are 50 per cent to 60 per cent cheaper than other brands' cars. The price of pick-up trucks is 50,000 yuan to 70,000 yuan; and that of SUVs 70,000 to 90,000 yuan," he said. "Price is a key competitive element for Chinese-brand cars in overseas markets."
To enhance competitiveness, Chinese carmakers must hasten the launch of new models. "In the past, carmakers could promote a new model in two to three years. We can't work like that now. At least one new model should be launched per year."
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