Is below really the situation now ?
This Chinese Billionaire Is Moving Production to the U.S. to Cut Costs | Fortune.com
This Chinese Billionaire Is Moving Production to the U.S. to Cut Costs | Fortune.com
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Biography said:Cao Dewang, male, Han nationality, is a native of Fuqing, Fujian Province. He is educated through junior middle school.
Cao's company, the Fuyao Glass Industry Group, produces glass used in automobiles. His company is listed on the Shanghai Securities Exchange market and was one of the first non-public Sino-foreign joint ventures listed.
A chairman of both the China Automobile Glass Association and the Fujian Golf Players' Association, Cao is a special government economic researcher. In addition, he is a member of the Fujian provincial committee of the CPPCC.
Is below really the situation now ?
This Chinese Billionaire Is Moving Production to the U.S. to Cut Costs | Fortune.com
.Been nearly decade since I was in China, but back then business folks were complaining about much higher official tax rates than in the US. The far-higher taxation thing is real; though it's not clear how many pay it. Wages are still low, but rising beyond places like India and Vietnam.
Far as I can tell, their tax system is like ours. Whether you pay the official tax rate depends a whole lot on who you are and what favors you get. China is apparently now second only to the US in the number of millionaires. Just as the Japanese and Arabs in past decades, the Russians in more recent years, they are buying up assets around the world -- sports teams, real estate, companies, etc.
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