LYCOS RETRIEVER 
China: People
built 629 days ago
In targeted sectors, like high-technology industries, China uses a variety of incentives to encourage investment, such as duty-free import of capital equipment and VAT rebates on inputs. Foreign investors in targeted regions and special economic zones and in certain industries, such as machinery or construction... benefit from reduced income taxes. However, in December 2006, the National People’s Congress began considering a measure to eliminate the tax advantages enjoyed by foreign investors. This measure, if adopted, would fix corporate tax rates for both foreign and domestic firms at 25 percent, following a transitional adjustment period.
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China has recently experienced a huge economic explosion, and many rural residents (over 200 million by some estimates) have moved to the cities to become migrant workers, or sometimes businessmen. This has created a two-tier social structure in most cities; the established urban dwellers, and people from rural areas, the latter group often face discrimination and mistreatment from the former.
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In Beijing, on October 1, 1949, Mao Zedong proclaimed the founding of the People's Republic of China (P.R.C.). The new government assumed control of a people exhausted by two generations of war and social conflict, and an economy ravaged by high inflation and disrupted transportation links. A new political and economic order modeled on the Soviet example was quickly installed.
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Usunco Automotive is a developer and distributor of components for the industrial and farm equipment market, and of automotive parts from suppliers in the People's Republic of China to customers in China, North America and other regions. Usunco owns 100% of the equity interest of IBC Automotive Products, Inc., the North American arm of Usunco, and 75% of the equity interest of Zhejiang ZhongChai Machinery Co., Ltd., which serves as the Chinese arm of Usunco business.
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Written exclusively by the legal, accounting and audit professionals at Dezan Shira & Associates, they are designed for the multinational businessmen to understand the practical implications and requirements of conducting trade and business in and with the Peoples Republic of China. These books are updated on average every 6 months, with several now in their second or third editions.
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