ERNST&YOUNG---wherever you go and whatever you read, there is a certain conclusion - China is a global economic powerhouse. Fixed asset investment in China reached US$ 846 billion in 2004, an increase of just over 25%. Exports rose to above half a trillion US dollars - US$ 593 billion - with imports growing to US$ 561 billion, creating a surplus trade balance of US$ 32 billion, and foreign exchange reserves of US$ 711 billion as of June 2005.
Main contents:
·Introduction
·Taxation in China
·The Transaction Lifecycle
·Conclusions
