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False Trade Survey Of Enterprises: 80 Exports Of The Same Goods

2013/5/10 9:13:00 49

"Hongkong one day tour" to further investigate: enterprises through false "a href=" http://sjfzxm.com/news/index_c.asp "> trade < /a" to obtain low interest loans abroad, or for exchange arbitrage or investment and financial products

Less than P > a 10 million yuan "export" 80 times, can contribute 800 million yuan bright export data.

Liu Tao is the chief executive of an electronic export enterprise in Shenzhen. This "deep throat" revealed to reporters yesterday that some foreign trade enterprises have increased their "dark road". One of the most subtle ways is that domestic enterprises obtain the qualification of overseas loans through forged exports, thus acquiring foreign exchange entry.

In this way, the "principal" can earn the difference between the interest rate and the exchange rate, and it can also be used to purchase short-term financial products of banks.

this kind of money like vultures is a kind of hot money commonly known in the industry.

In the near future, counterfeiting enterprises can obtain such arbitrage funds through the "export" of Hongkong.

A case similar to P can partly explain why the mainland has exported rockets to Hong Kong in the near future, and has also become a practical textbook for the customs and foreign exchange management departments to strengthen their supervision.

P > Beautiful data

The data released by the General Administration of Customs (P) on Wednesday showed that the import and export data in April were significantly higher than the a href= "http://sjfzxm.com/news/index_s.asp" and the market < /a >. The export growth was 14.7%, higher than last month's 10%.

In the first 4 months, the bilateral trade between the mainland and Hongkong increased by 66%.

In March, the mainland's exports to Hongkong increased by 92.9%, creating the highest growth rate since March 1995.

in fact, just two days before the Customs announced the April data, the State Administration of foreign exchange issued a request to strike a suspicious trade under the trade.

In combination with the continuous hurricane in the late April, speculation about the frequent landing of hot money has become the market leader's argument.

a number of foreign institutions quoted data from Korea, China, Taiwan and Hongkong of China that their import data are not consistent with the export figures released by the customs.

despite the fact that the General Administration of Customs has emphasized that there are differences in the mainland's export to Hongkong and Hongkong's import statistics from the mainland, the market does not think this is enough to explain all the reasons for the high data.

Yao Wei, economist at the Bank of Hongkong, said there was some tricky trade data between the mainland and the P, mainly due to the existence of large-scale speculative capital entering the mainland through trade accounts.

According to the public data of the General Administration of customs, the trade between the mainland and Hongkong increased by 55% over the same period last year, while the growth rate for other countries and regions was 12%. At the same time, the trade surplus between the mainland and Hongkong was 38 billion 200 million US dollars, while the overall surplus in the month was 18 billion 200 million US $12% in April.

"some enterprises that we have talked with have admitted that they are carrying out some interest arbitrage.

We estimate that this deviation in terms of trade growth data, including imports and exports, is about 3~8 percentage points.

Yao Wei pointed out in his report.

Zhou Binglin, chief analyst of Guoxin Securities, said that part of the deviation between the two ends of the trade between Hongkong and the mainland is that the enterprises falsified the export tax rebates and the false freight flow with the entry of funds. P

the analysis of economists sitting in the office is confirmed by Liu Tao's real case.

"the same batch of goods will be exported to 10 million times by 80 times in the form of" one day tour of Hongkong "and so on, and the goods will be 800 million yuan.

He said that enterprises are coming in and coming out repeatedly. The purpose is not to deceive export tax rebates. The fundamental reason is that a large amount of capital has entered the mainland through trade channels.

generally speaking, the purpose of manufacturing false export includes these categories: cheating export tax rebates, reducing sales tax burden (to circumvent the domestic sales tax rate, adopting the way of going to Hong Kong and Macao, and importing the mainland with almost zero tariff); and "handling" hot money arbitrage.

When the trade data of P > March brought the market to light, the newspaper reported that there was a difference of 2 million yuan earned by the company through the Shenzhen "free trade zone".

"P >" foreign trade is booming, not the international economic situation is improving, pushing the biggest promoter is "financial management" driven.

Liu Tao said.

operation method

in the whole < a href= "http://sjfzxm.com/news/index_cj.as" > hot money /a > arbitrage chain, forged huge trade is the first step, the key step is to obtain foreign exchange funds through "internal guarantee loan".

the so-called "internal and external loans" refers to the guarantee conditions for domestic enterprises to issue credit certificates to domestic banks, and after they deposit a certain amount of money in the bank, their subsidiaries can obtain financing from overseas banks.

For example, enterprises deposit one hundred million yuan in the mainland bank, and the Bank of Hongkong company loans the US dollar or the Hong Kong dollar.

Liu Tao said that the products sold by the company itself are sold to the owner, holding the documents of goods trade complete, so it is not difficult to handle the business of "internal guarantee loan".

take Hongkong as an example. Liu Tao said that the interest rate difference between mainland bank and Hongkong bank, the mainland bank launched various financial products, and the acceleration of RMB appreciation this year, these three factors have prompted some people to pfer overseas funds through the trade channels to the mainland.

our reporter understands that the annual interest rate of Hong Kong dollar loans in Hongkong is generally between 2.25% and 2.5%, while the US dollar is 2.19%, while the mainland's five largest banks have a one-year interest rate of 3.25%.

The average interest rate for small and medium banks is 3.3%.

there is a percentage difference in interest rate. If there is 10 million yuan, the profit is 100 thousand yuan.

In addition, there are RMB appreciation factors, as well as all kinds of financial products that are prone to more than 4.3% years' income, and 10 million yuan of funds come in, and the income is less than a few hundred thousand a year.

"but only 10 million yuan is not enough. We must move more than 10 million. We should try to blow up countless monkeys like Sun Wukong. Trade in goods is the best carrier."

Liu Tao said that with the same batch of products coming in and out many times, they could turn the amount of 10 million yuan into 800 million yuan.

In particular, when the appreciation of the renminbi accelerated, the "Hongkong one day tour" became more active.

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we need to pay attention to the fact that 800 million yuan is just the amount of forged export, and enterprises need to obtain loans abroad as "vouchers".

this year, the appreciation of RMB has accelerated, and has now broken through the 6.2 mark.

The latest data from the China Foreign Exchange Trading Center show that in May 9th, the central parity of RMB against the US dollar was 6.1925, which was 55 basis points higher than the previous trading day. It has been rising for fourth consecutive trading days and has once again set a record of the exchange rate reform.

This year, the total appreciation of RMB has exceeded 1%.

industry insiders say that before the false declaration of exports needs to really pull the goods to the "one day tour of Hong Kong and Macao", this situation is changing now, and only one day tour can be completed in the bonded area.

"goods are in the bonded area, and professionals can help you complete all the export contracts, letters of credit and other documents required for import and export."

Liu Tao said.

"P" and a foreign trade company salesman Chen told reporters that Guangdong has a large volume of foreign trade, and some of the bonded areas are not well regulated. With the same goods and even without processing, they can also come back from the "export warehouse" to the "import warehouse" in the bonded area. Sometimes, in order to deceive the public, they just changed their packaging and completed the export to domestic sales.

"P > a company providing false export" business "in Shenzhen Futian Bonded Area also reflects that in the first quarter of this year, the company once helped a customer to return and enter the same batch of rubber raw materials for 41 times.

resultant supervision /p >

In addition to the above practices, foreign trade enterprises also introduce hot money through false invoices and export quotations, but this is not a new idea. P

As early as 2012, when hot money entered the early stage of Asia, some scholars told our reporter that under the condition that China's capital account was not fully liberalized, hot money might be able to enter the mainland market regularly.

P, a cross-border trading regulator, has issued a series of regulations to curb capital inflows, including restricting the ability of banks to maintain their net foreign exchange exposure, and taking stringent measures to curb capital inflows from important non trade related channels and strictly restricting the reporting of false reports.

this reporter learned from the decision making level that senior executives have begun to pay close attention to Guangdong's Shenzhen trade data in the past few months.

A number of foreign trade systems have revealed that the relevant departments have begun to investigate false trade since last month.

Customs supervision is also upgrading.

The official of the Shenzhen Municipal Commission of letters told our reporter that the enterprises in the customs special supervision zone, such as Futian Bonded Area, are monitoring and rectifying.

"recently, customs inspection is very strict, and basically every cabinet must be inspected."

The head of a toy enterprise in Shenzhen told reporters yesterday that "before the bad economy, the customs were still relatively loose, and they did not necessarily open their cabinets to check. This gave enterprises room for cheating, and some enterprises cheated tax rebates or money laundering frequently."

insiders worry that the "false increase" of export data will affect the deviation of national macroeconomic judgment.

"At present, the international economy has not been significantly warmer, exports can not be so hot, and the export of high-tech products can be counted. The pformation of low value-added products to high value-added products will take some time. We hope that the relevant government departments should pay attention to the current situation and do not think that the situation is improving and too optimistic."

Zhou Shijian, executive director of the China International Trade Association and senior researcher of the Sino US relations research center of Tsinghua University, told the newspaper reporter that with the increasing strength of many government departments, the momentum of export growth has been curbed. P

This can be seen from the following export data in some regions.