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Report No. : |
325806 |
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Report Date : |
09.06.2015 |
IDENTIFICATION DETAILS
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Name : |
CHINA YOUTH INDUSTRIAL DEVELOPMENT CORPORATION |
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Registered Office : |
2-16 A, No. 2 Building, Huateng International, No. 2 Yard, Dajiaoting Middle Street, Chaoyang District, Beijing 100124 PR |
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Country : |
Chinas |
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Date of Incorporation : |
11.08.1988 |
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Com. Reg. No.: |
110000012817044 |
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Legal Form : |
State-Owned Enterprise |
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Line of Business : |
Subject is engaged in medical apparatus and instruments; wholesaling prepackaged food; wholesaling and retailing mechanical and electrical equipment, automobiles, auto parts, wood, building materials, decoration materials, chemical raw materials and products, needles textiles, department stores, clothing shoes and hats, hardware; selling heavy oil; developing cultural and sports supplies, recreational facilities, tourism commodities; selling its products; electric equipment maintenance; leather processing; material storage; development of new emerging technology; importing and exporting commodities and technologies; processing and manufacturing metal products, wood products, needles textiles, clothing shoes and hats; technology consulting and technology service of the above items; science and technology information, mental health counseling; car decoration, clean; selling coal. |
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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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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. 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 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 that year... 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 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 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. 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 implemented several economic reforms in 2014, including legislation allowing local governments to issue bonds, further opening several state-owned enterprises to private investment, loosening the one-child policy, passing harsher pollution fines, and cutting administrative red tape.
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Source
: CIA |
CHINA YOUTH INDUSTRIAL DEVELOPMENT CORPORATION
2
TEL: 86 (0) 10-87952916 FAX: N/A
INCORPORATION DATE : AUG. 11, 1988
REGISTRATION NO. : 110000012817044
REGISTERED LEGAL FORM : STATE-OWNED ENTERPRISE
STAFF STRENGTH : N/A
REGISTERED CAPITAL : CNY 50,000,000
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 6.2048 =USD 1
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 Aug. 11, 1988.
Company Status: State-owned enterprise
This form of business in PR China is defined as a commodity production
or operational units of a socialist character which in accordance with the law,
has 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 operating medical apparatus and instruments; wholesaling prepackaged food; wholesaling and retailing mechanical and electrical equipment, automobiles, auto parts, wood, building materials, decoration materials, chemical raw materials and products, needles textiles, department stores, clothing shoes and hats, hardware; selling heavy oil; developing cultural and sports supplies, recreational facilities, tourism commodities; selling its products; electric equipment maintenance; leather processing; material storage; development of new emerging technology; importing and exporting commodities and technologies; processing and manufacturing metal products, wood products, needles textiles, clothing shoes and hats; technology consulting and technology service of the above items; science and technology information, mental health counseling; car decoration, clean; selling coal.
SC is mainly engaged in trading of goods.
Mr. Ding Yuanwei is the legal representative and general manager of SC at present.
SC’s management refused to release the number of the employees.
SC is currently operating at the above stated address, and this address houses its operating office in Beijing. The detailed premise information is unknown.
SC is not known to host web site of its own at present.
Email: cyidc_bj@163.com
No significant events or changes were found during our checks with the local Administration for Industry and Commerce.
Organization code: 100008755
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
The Central Committee of the Communist Young League 100
Add: No. 10, Qianmen East Street, Beijing
Email: gqt@gqt.org.cn
l Legal Representative and General Manager:
Mr. Ding Yuanwei born in
1954, with Master’s degree. He is currently responsible for the overall
management of SC.
Working Experience(s):
At present Working in SC as
legal representative and general manager.
Also working in Cachet Pharmaceutical Co., Ltd. as legal representative.
SC is mainly engaged in trading of goods.
SC’s products mainly include: wines.
SC sources its materials 60% from domestic market and 40% from overseas market. SC sells 70% of its products in domestic market and 30% to 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 T/T, L/C, Check and Credit of 30-60 days.
Note: SC declined to release its major suppliers and clients.
SC is known to have the follow subsidiary:
Cachet Pharmaceutical Co., Ltd.
Incorporation Date:
Registered no.: 110000005100956
Legal representative: Ding Yuanwei
The said company is listed in Shenzhen Stock Exchange with the code of 002462.
Tel: +86 (10) 88433464
Fax: +86 (10) 88447731
E-mail: cachet@cachet.cn
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.
The banking information of SC is unknown.
SC’s management declined to release any financial information.
SC has a long development history. Due to lack of financial status, we are unable to recommend accurate credit limit for SC. Taking into consideration of SC’s background, development history and operation size we would rate SC as an average credit risk company.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.64.11 |
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1 |
Rs.97.84 |
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Euro |
1 |
Rs.71.12 |
INFORMATION DETAILS
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Analysis Done by
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RAS |
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Report Prepared
by : |
VNT |
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.