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BIZCHINA> Reports
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Tire trade in trouble
By Shangguan Zhoudong (chinadaily.com.cn)
Updated: 2007-08-08 14:53
Tax rebates for rubber products were slashed from 13 percent to 5 percent. Some listed tire companies announced that the tax rebate cut would affect their performance and informed investors to be wary of risks. Qingdao Yellow Sea Rubber Co Ltd said that the policy would have a negative impact on its performance and create roughly 10 million yuan (US$1.32 million) in additional costs. Giti Tire Corporation also noted the negative impact. ... The full text is available in the August Issue ofAutoChina. (For more biz stories, please visit Industries)
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