MIRA
INFORM REPORT
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Report Date : |
08.06.2013 |
IDENTIFICATION DETAILS
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Name : |
CHINA YUNNAN FOREIGN TRADE AND ECONOMIC COOPERATION LIMITED |
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Registered Office : |
No. 258, Intermediate Parts Of Huancheng Road, Kunming
City, Yunnan Province, 650021 Pr |
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Country : |
China |
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Date of Incorporation : |
19.11.2012 |
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Com. Reg. No.: |
1827288 |
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Legal Form : |
Private |
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Line of Business : |
Trading of wheel gear, pressure vessel, etc. |
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No. of Employees : |
30 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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China |
A2 |
A2 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
CHINA - ECONOMIC OVERVIEW
Since the late 1970s China has moved from a closed,
centrally planned system to a more market-oriented one that plays a major
global role - in 2010 China became the world's largest exporter. Reforms began
with the phasing out of collectivized agriculture, and expanded to include the
gradual liberalization of prices, fiscal decentralization, increased autonomy
for state enterprises, creation of a diversified banking system, development of
stock markets, rapid growth of the private sector, and opening to foreign trade
and investment. China has implemented reforms in a gradualist fashion. In
recent years, China has renewed its support for state-owned enterprises in
sectors it considers important to "economic security," explicitly
looking to foster globally competitive national champions. After keeping its
currency tightly linked to the US dollar for years, in July 2005 China revalued
its currency by 2.1% against the US dollar and moved to an exchange rate system
that references a basket of currencies. From mid 2005 to late 2008 cumulative
appreciation of the renminbi against the US dollar was more than 20%, but the
exchange rate remained virtually pegged to the dollar from the onset of the
global financial crisis until June 2010, when Beijing allowed resumption of a
gradual appreciation. The restructuring of the economy and resulting efficiency
gains have contributed to a more than tenfold increase in GDP since 1978.
Measured on a purchasing power parity (PPP) basis that adjusts for price
differences, China in 2012 stood as the second-largest economy in the world
after the US, having surpassed Japan in 2001. The dollar values of China's
agricultural and industrial output each exceed those of the US; China is second
to the US in the value of services it produces. Still, per capita income is
below the world average. The Chinese government faces numerous economic
challenges, including: (a) reducing its high domestic savings rate and
correspondingly low domestic demand; (b) sustaining adequate job growth for
tens of millions of migrants and new entrants to the work force; (c) reducing
corruption and other economic crimes; and (d) containing environmental damage
and social strife related to the economy's rapid transformation. Economic
development has progressed further in coastal provinces than in the interior,
and by 2011 more than 250 million migrant workers and their dependents had
relocated to urban areas to find work. One consequence of population control
policy is that China is now one of the most rapidly aging countries in the
world. Deterioration in the environment - notably air pollution, soil erosion,
and the steady fall of the water table, especially in the North - is another
long-term problem. China continues to lose arable land because of erosion and
economic development. The Chinese government is seeking to add energy
production capacity from sources other than coal and oil, focusing on nuclear
and alternative energy development. In 2010-11, China faced high inflation
resulting largely from its credit-fueled stimulus program. Some tightening
measures appear to have controlled inflation, but GDP growth consequently
slowed to under 8% for 2012. An economic slowdown in Europe contributed to
China's, and is expected to further drag Chinese growth in 2013. Debt overhang
from the stimulus program, particularly among local governments, and a property
price bubble challenge policy makers currently. The government's 12th Five-Year
Plan, adopted in March 2011, emphasizes continued economic reforms and the need
to increase domestic consumption in order to make the economy less dependent on
exports in the future. However, China has made only marginal progress toward
these rebalancing goals.
Source
: CIA
Company name and address
CHINA YUNNAN
FOREIGN TRADE AND ECONOMIC COOPERATION LIMITED
NO. 258,
Intermediate Parts OF HuanchEng Road,
Kunming City,
yunnan province, 650021 PR CHINA
TEL: 86 (0) 871-63938102/(0)15887282585 FAX: 86 (0) 871-63938337
Narrative report:
This refers to a
type of report whose format is different from that of a standard report. Such
type of report is provided when:
l
Information obtained is insufficient for compiling
a standard report.
l
The enquired co has been out of business or its
business address has been untraceable.
It should be noted that the time and manpower spent on preparing such
type of report might be greater than those on a standard report. On many
occasions, the information in this type of report still indicates the current
status of the enquired co. and serves as a useful reference to assess its
credit standing.
The contact number we found from the
internet is:
86 (0) 63938102/
(0)15887282585
When we dialed the above number, a male Mr.
Chen answered. He recognized the given name and released the following
information on SC:
SC’s correct name should be heading one
instead of the given one.
SC is registered in Hong Kong with the name China Yunnan Foreign Trade and
Economic Cooperation Limited, and its Chinese name in translation
is
中国云南对外经济贸易合作有限公司.
All of its business is operating in Kunming,
mainland China.
www.yndwhz.com
The design is professional and the content is well organized. At present the
web site is in English version.
E-mail: ynjckgs@163.com
The address client provided is:
No. 258 Huancheng Road, Intermediate Parts, Kunming City, 650021 PR
China
According to Mr. Chen, SC is currently operating in this address. It
also has a testing center located in “No. 303 Middle Renmin Road, Kunming”.
According to the Chinese name
released by Mr. Chen, careful investigations were
made with Yunnan Provincial and Kunming Municipal Administration for Industry
and Commerce (AIC - The official body of issuing and renewing business
license), but no record was found.
Investigations were conducted with
Hong Kong Companies Registry, and we found the registered information of SC as following:
CR
No.: 1827288
Company Name: China Yunnan Foreign Trade and Economic Cooperation Limited
Date
of Incorporation: Nov. 19, 2012
Company
Status: Private
Mr. Chen released the following operation
information:
Staff strength: 30 employees
Office premise: 400 square meters
Major business: Trading (import and export
business)
Major products: wheel gear, pressure vessel,
etc.
Import from: India
Export to: Russian
*Website information:* (www.yndwhz.com)
===============================
SC is mainly engaged in import and export
business.
Main products: wheel gear, pressure vessel,
etc.
Mr. Chen told us, if the client
wants to know more about SC, please send an
e-mail to the e-mail address ynjckgs@163.com or make the phone call through 86
(0) 63938102/ (0)15887282585.
SC was established on Nov. 19, 2012 in Hong Kong and operating in
Kunming, mainland China.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.56.74 |
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|
1 |
Rs.88.53 |
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Euro |
1 |
Rs.75.20 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership background
(20%) Payment record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.