Tag Archives: Steven Tadic

China’s growth increases to 7.5% in Q2

The mainland’s economy grew 7.5 percent between April and June from a year earlier, slightly above expectations and quickening from the 7.4 percent pace in the first quarter, reinforcing hopes that a recovery is under way after a flurry of government stimulus measures.

Other data released alongside the gross domestic product report showed factory output rose 9.2 percent in June from a year ago, beating expectations of a 9.0 percent increase.

Fixed asset investment, a mainstay driver of the mainland’s economy, climbed 17.3 percent in the first six months compared with a year earlier, above forecasts for a 17.2 percent rise.

Retail sales rose 12.4 percent in June from a year ago, in line with analysts’ predictions.

China’s economy got off to a weak start this year as unsteady foreign and domestic demand dragged on exports, investment and industrial output, prompting the government to announce a slew of stimulus measures.

Many economists believe more policy support may be needed in coming months to sustain any recovery, particularly if the already cooling property market begins to deteriorate more sharply.

China manufacturing hits 5-month high

Manufacturing activity on the mainland hit a five-month high in May, but overall growth still contracted slightly in a suggestion that the outlook remains murky.

HSBC’s Purchasing Managers’ Index recovered to 49.7 in May from April’s final reading of 48.1. But the data is a touch below the 50-point level that separates a monthly growth in activity from a contraction, indicating that manufacturers actually experienced a slight drop in business.

China is a major manufacturer of EVA interlocking jigsaw rubber gym mats. Major supplier include Ezymats which has offices in Belmore Australia and Shenzhen China.

China’s State Administration of Taxation Reform

China’s State Administration of Taxation (“SAT”) put into effect on broadening the scope of tax benefit for Small-medium sized Enterprises

In its official website, China’s SAT issued a bulletin on 18 April 2014 (Caishui [2014] No.34) that all the Small-medium sized Enterprises, in compliance with specified conditions, may enjoy the tax benefit on Corporate Income Tax (“CIT”). The relevant main terms are extracted as follows:-

1. The Small-medium sized Enterprises in compliance with specified conditions may enjoy a preferential tax rate of 20% on taxable income regarding CIT;

2. At the time of annual reporting of CIT, the preferential tax benefit policy will be adopted without the requirement of obtaining formal approval in advance from the competent tax authorities;

3. The Small-medium sized Enterprises with current and cumulative taxable income not exceeding RMB100,000, of which examining accounts is required and tax is imposed at a fixed rate, are applicable to this tax benefit policy;

4. Newly-established Small-medium sized Enterprises with the taxable income not exceeding RMB100,000 can also enjoy the said tax benefit as well

The measures will enable more Small-medium sized Enterprises to enjoy the tax benefit on CIT so as to release more liquid working capital for investing in future business development. This is sure to benefit EVA jigsaw mats and gym mats manufacturers. It will benefit the broader market for these and other products.

Ezymats CEO to take company global

Ezymats CEO has vowed to take the company global following the success of the companies jigsaw mats. “I see a growing market globally and I want us to be part of it” says CEO.

Since 2013 Ezymats has been supplying training mats through out Australian to a number of organisations. Their mats have had particular success with martial arts organisation and people looking to set up home gyms. “Our mats are not only fantastic quality but they are the cheapest on the market. We want people from other countries to benefit from our mats just like those in the Australian market have” insisted CEO.

CEO is currently in China expanding the company’s office and warehousing facilities to accommodate the new expansion. Not only is he expanding he Ezymats operation but also his other successful businesses.

“Watch this space. When we embark on an adventure expect something amazing. Not only will we expand our each but also our offering. Apart from Jigsaw mats we will be offering vinyl judo mats of professional quality as well” CEO.