Shanghai Wangshi Industry (Group) Co., Ltd

JIADING DISTRICT


	Shanghai Weina Cosmetics Co., Ltd Shanghai Weina Cosmetics Co., Ltd is a fully Korean-owned company set up in April 2003 by Yakult Group(one of the top 50 enterprises in Korea) with a total investment of 7.2 million US$. So far Shanghai Weina Cosmetics Co., Ltd, now with its branches spread in 6 big or middle-sized cities in China, is dedicated to provide cosmetic service to the Chinese women. With technical support and talents by Korean Nadri Cosmetic Company, as well as product research and development lab in Korea, Shanghai Weina Cosmetics Co., Ltd, signed leasing contract with The Wangs’ Group in February 2009, and will start manufacturing in the industrial zone building owned by the latter.



	TSUBAKIMOTO Mayfran Conveyor(Shanghai) Co.,LTD. TSUBAKIMOTO Mayfran Conveyor Co.,LTD, a company that has gone global with Japan as its base, has operations in America, Europe and Asia as well. It provides waste, the disposal system of the . the most popular products are digit control machine tools and metal processing center. The Wangs’Group has tailor constructed factory buildings for Mayfran, which is to start its production here by the end of 2009.



	Tsubakimoto Automotive (Shanghai) Co., Ltd. Tsubaki was founded and established in January 1941 with registered capital of about 18billion Yen. The headquarter is in Osaka. Tsubaki’s business includes the manufacture and sale of power transmission device, electronic machine, the design of conveyor device, and the contract of projects. In April 2004, Tsubaki established Tsubakimoto Automotive (Shanghai) Co., Ltd. and in June 2007, Tusbakimoto entered Wangshi's industrial park in Jiading.



	Fujikura Changchun Ltd Shanghai Branch. Fujikura Changchun Ltd is a subsidiary of Fujikura which was established in 1885. Fiber products and electronics components that sustain present high information society are the mainstay of Fujikura today. Fujikura provides products and service for well-known automobile manufacturers. In June, 2008 Fujikura Changchun set a branch in Shanghai and entered Wangshi workshop in Jiading.



	Tsubaki Emerson Machinery (Shanghai) Co., Ltd. Tsubaki Emerson, a subsidiary of Tsubaki Group, focuses on the production of reduction devices, electric cylinder and other products related with the control domain. Tsubaki Emerson attaches great importance on the research and development of much precise and fast-working devices for customers, setting itself a leader in the area. In June ,2008, Trubaki Emerson signed contract with Wangshi Group and entered Jiading Industrial zone.

Preferential Policies

Tax Type	Preferential policies
Business income tax: basic rate 24%	1. Any enterprise with foreign investment of a production nature scheduled to operate for a period of not less than 10 years shall, from the year in which it begins to make profits, be exempted from income tax in the first and second years and allowed a 50% reduction (12%) in the third to fifth years; 2. Any enterprise of a product export nature, after the abovementioned 2 years of exemption and 3 years of half reduction, shall be levied at thereduced rate of 12%; 3.Technology enterprise shall be entitled another 3 year of 50% cut on the corporate income tax in addition to the stipulation of the article.? That is, 2 years of exemption and 6 years of 50% tax reduction; 4.The foreign invested enterprises that has been determined to have high and new technology, shall be levied at the reduced rate of 15 percent; 5.Foreign investment enterprise in technology-intensive, knowledge-intensive projects, can enjoy the favourable reduced tax rate of 15 percent; 6.Any enterprise with the nature of R&D centre, regional headquarter (including overseas acquisition centre and logistics centre) of a global company, shall be levied at 15%. 7.15% of enterprise income tax shall be levied to the enterprises that have entered export processing zones.
Value Added Tax: basic rate 17%	1.Any enterprise whose products are to be exported directly is deemed to be entitled the favourable policy of tax reimbursement after the exportation; 2.The foreign invested enterprises in conformity to the encouraging category can be exempted from the import duty and import link value-added tax of self-use equipment within the overall investment amount, except for the commodity listed in Imported Goods without Duty Exemptions for Foreign Investments.
Local Income Tax: rate 3%	Simultaneously exempted with the business income tax.
Sales Tax: rate 3 – 5%	1.For the transfer of intangible asset and for the sales of realty, tax is levied at 5%; 2.For the benefit derived from the transfer from high- and new-technology output to projects, tax is exempted. 3.For the benefit derived from the output transfer of R&D centre project, tax is exempted.
Custom Tax	1. Equipment import: those foreign invested projects which fall into the category of encouraged items are exempted from customs tariff and import VAT; 2. Bonded Material: those enterprises processing with supported materials is entitled to import material with protective tariff; 3. Product Export: directly exported products enjoys favourable policies of tax reimbursement after exportation; Such enterprises locate within the export and processing zones, as import self-use equipment and materials shall be exempted from custom tax.