MIRA INFORM REPORT
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Report No. : |
356778 |
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Report Date : |
29.12.2015 |
IDENTIFICATION DETAILS
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Name : |
CHINA JING AN IMPORT AND EXPORT CORPORATION |
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Registered Office : |
No. 25 Xitangzi Lane, North Wangfujing Street, Dongcheng District,
Beijing, 100006 Pr |
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Country : |
China |
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Date of Incorporation : |
14.08.1984 |
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Com. Reg. No.: |
100000000002157 |
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Legal Form : |
State-Owned Enterprise |
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Line of Business : |
Importing and exporting business, selling computer hardware and
software and peripherals, communications equipment, information security
system products, security engineering equipment, alarm and monitoring systems,
fire fighting equipment, traffic control equipment, hardware, chemical
materials (not including hazardous chemicals), machinery and electronic
equipment, household appliances, automobiles (including small cars) and spare
parts, motorcycles and spare parts, office equipment, building materials,
textiles, clothing, daily necessities, decoration materials, arts and crafts;
equipment installation, technology development, technical consulting service
related to the above mentioned business; installation engineering
contracting, related equipment maintenance; catering, accommodation (Changli
Gold Coast Hotel only). (with permit if needed) |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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, growth of the private sector, development of stock markets and a modern banking system, 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 considered important to "economic security," explicitly looking to foster globally competitive industries. 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 2014 stood as the largest economy in the world, surpassing the US for the first time in modern history. Still, China's per capita income is below the world average.
After keeping its currency tightly linked to the US dollar for years, in July 2005 China 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. In 2014 the People’s Bank of China (PBOC) doubled the daily trading band within which the RMB is permitted to fluctuate.
The Chinese government faces numerous economic challenges, including: (a) reducing its high domestic savings rate and correspondingly low domestic consumption; (b) facilitating higher-wage job opportunities for the aspiring middle class, including rural migrants and increasing numbers of college graduates; (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 2014 more than 274 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.
Several factors are converging to slow China's growth, including debt overhang from its credit-fueled stimulus program, industrial overcapacity, inefficient allocation of capital by state-owned banks, and the slow recovery of China's trading partners. The government's 12th Five-Year Plan, adopted in March 2011 and reiterated at the Communist Party's "Third Plenum" meeting in November 2013, emphasizes continued economic reforms and the need to increase domestic consumption in order to make the economy less dependent in the future on fixed investments, exports, and heavy industry. However, China has made only marginal progress toward these rebalancing goals. The new government of President XI Jinping has signaled a greater willingness to undertake reforms that focus on China's long-term economic health, including giving the market a more decisive role in allocating resources. In 2014 China agreed to begin limiting carbon dioxide emissions by 2030. China also implemented several economic reforms in 2014, including passing legislation to allow local governments to issue bonds, opening several state-owned enterprises to further private investment, loosening the one-child policy, passing harsher pollution fines, and cutting administrative red tape.
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Source
: CIA |
Company
name & address
CHINA
JING AN IMPORT AND EXPORT CORPORATION
no. 25 xitangzi lane, north wangfujing street,
dongcheng district,
beijing, 100006 PR CHINA
TEL: 86 (0) 10-65135558 FAX: 86 (0) 10-65131365
EXECUTIVE
SUMMARY
INCORPORATION DATE :
AUGUST 14, 1984
REGISTRATION NO. :
100000000002157
REGISTERED LEGAL FORM : STATE-OWNED ENTERPRISE
CHIEF EXECUTIVE : MR. ZHANG MIN’GUI (LEGAL REPRESENTATIVE)
STAFF STRENGTH :
N/A
REGISTERED CAPITAL :
CNY 25,800,000
BUSINESS LINE :
TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.4866 = USD 1
Adopted
abbreviations:
ANS - amount not stated NS
- not stated SC - subject company (the
company inquired by you)
NA - not available CNY
- China Yuan Renminbi
SC was registered as a State-owned enterprise at local Administration
for Industry & Commerce (AIC - The official body of issuing and renewing
business license) on August 14, 1984.
Company Status: State-owned enterprise This form of business in PR
China is defined as a commodity production or an operational unit of a
socialist character which in accordance with the law, have autonomy in management,
takes full responsibility for its profits and losses and practices
independent business accounting. It is a legal person established directly
by central / local government or enterprise owned by central or local
government. In theory, the liabilities of this form of enterprise are
ultimately borne by the government, since the adoption of company law in
mid-1994, the Chinese government has planned to separate the ownership from
management and liabilities bearing.
SC’s registered business scope includes importing and exporting
business, selling computer hardware and software and peripherals,
communications equipment, information security system products, security
engineering equipment, alarm and monitoring systems, fire fighting equipment,
traffic control equipment, hardware, chemical materials (not including
hazardous chemicals), machinery and electronic equipment, household appliances,
automobiles (including small cars) and spare parts, motorcycles and spare
parts, office equipment, building materials, textiles, clothing, daily
necessities, decoration materials, arts and crafts; equipment installation,
technology development, technical consulting service related to the above
mentioned business; installation engineering contracting, related equipment
maintenance; catering, accommodation (Changli Gold Coast Hotel only). (with
permit if needed)
SC is mainly engaged in international trade.
Mr. Zhang Min’gui is legal representative of SC at present.
SC’s management declined to disclose its employee information.
SC is currently operating at the above stated address, and this address
houses its operating office in the commercial zone of Beijing. The detailed
information of the premise is unspecified.
SC is not known to have its own website at present.
No significant changes were found during our checks with the local
Administration for Industry and Commerce.
Organization code: 100002150
See below for SC as executive party (defendant).
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Executed Party |
SC |
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Court |
Shanghai No. 1 Intermediate People's Court 上海市第一中级人民法院 |
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Date of Case |
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Case Number |
(2000) 00179 |
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Claim Amount |
RMB 144 |
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Case Status |
Completed |
Remark: Due to the lack of information, we are
unable to provide the cause of action, judgment or other information.
We did not find SC’s shareholder information at present.
Legal Representative
and general manager:
Mr. Zhang Min’gui is currently responsible for the overall management of
SC.
Working Experience(s):
At present
Working in SC as legal representative and general manager.
SC is mainly engaged in international trade.
SC’s management declined to disclose its products information, according
to website information, SC is a professional import and export corporation and
mainly operates police and civil security and fire-fighting equipment. Its
products include lock, hardware, nail chipper, lv apparatus, castor wheel, fire
extinguishers, smoke fire detector and alarm, etc.
SC sources its materials from domestic market and oversea market. SC sells
its products in domestic market and overseas market.
The buying terms of SC include Check, T/T, L/C and Credit of 30-60 days.
The payment terms of SC include Check, T/T, L/C and Credit of 30-60 days.
Note: SC refused to release its major clients and suppliers.
Trademarks:
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Trademark |
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Registration
No. |
3244021 |
3244022 |
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Registration
Date |
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Branch:
China Jing An Import and Export Corporation Changli Gold Coast
Hotel (literal translation)
====================================
Registration number: 130322300022416
Principal: Wang Yongming
Incorporation date:
Subsidiaries:
Zhong’an Economic Development Co., Ltd. (literal translation)
===============================
Registration number: 100000000024889
Legal representative: Yu Rui
Incorporation date:
Overall payment appraisal:
( ) Excellent (
) Good (X) Average (
) Fair ( ) Poor
( ) Not yet determined
The appraisal serves as a reference to reveal SC's payments habits and
ability to pay. It is based on the 3
weighed factors: Trade payment
experience (through current enquiry with SC's suppliers), our delinquent payment
and our debt collection record concerning SC.
Trade payment experience: SC did not
provide any name of trade/service suppliers and we have no other sources to
conduct the enquiry at present.
Delinquent payment record: None in our
database.
Debt collection record: No overdue amount
owed by SC was placed to us for collection within the last 6 years.
N/A
SC’s management declined to disclose its financial information.
SC is considered an old-established business.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.13 |
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1 |
Rs.98.69 |
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Euro |
1 |
Rs.72.55 |
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CNY |
1 |
Rs.10.23 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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HEE |
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Report Prepared
by : |
TPT |
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 |
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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.