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China Briefings

Reports on China issued by Samsung Economic Research Institute

China Business Intelligence No.10

China Business Intelligence No.10

Samsung Economic Research Institute Beijing Office

Dec. 1, 2006

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Highlights

I. Using TCL's Failure To Understand How Chinese Firms Should Internationalize

  • On October 31, 2006, TCL announced it would reorganize its European operations. According to a posted notice on TCL's website, TCL would stop all TV production and marketing in the region, except for OEM operations. TCL has incurred massive losses since its acquisition of Thomson in 2005 ultimately leading to this decision. Chinese firms' expansion abroad once again became a key focal point.

II. China Tightens Processing Trade

  • The Ministry of Finance in conjunction with the National Development Reform Commission (NDRC), the Ministry of Commerce (MOFCOM), General Administrations of Customs, and the State Administration of Taxation (SAT) jointly issued a circular on September adjusting the tax refund rate of some export commodities and supplementing processing trade prohibited catalogue (Circular No. 139). Based on the circular MOFCOM, GAC and SEPA announced on November 3 a detailed list of products coming under the prohibited category in processing trade.
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