Anti-dumping anti-dumping rubber first overseas company to start construction within the year

Recently, Shen Jinrong, chairman of Hangzhou Zhongce Rubber , was in a headache again. Anti-dumping sticks from countries such as Brazil, Colombia, India, etc. came in one by one. “There is no way. Whoever makes China a global tire production base.”

“Our first overseas company will be able to pass the approval immediately and start construction within the next year.” The head of Hangzhou Zhongce Rubber told reporters that their investment abroad is mainly to avoid anti-dumping. "If a country raises its import tax by 30%, then it will not have to do it again. Our overseas production plant is based on the principle that what categories of China are subject to anti-dumping and what kind of tires are produced outside China."

Unfamiliar with life, high investment risk, Shen Jinrong made this decision is also helpless. It is understood that China Strategic's factory in Thailand has a total investment of 1 billion yuan and the factory covers an area of ​​670 acres.

Many companies are now under tight funding, but China Policy has no such troubles. China Strategic issued renminbi-denominated RegS-type senior bonds through its wholly-owned subsidiary Haichao Trading Co., Ltd., which is registered in Hong Kong. The Export-Import Bank's province-provided SinoChem rubber overseas renminbi bonds issued a guaranteed amount of principal and interest of no more than 1 billion yuan. The bonds were finally priced at 2% of the coupon rate, with a issuance size of 900 million yuan and a three-year time limit. The cost was far lower than the market average coupon rate.

“As far as I know, we are the first company in Zhejiang to issue bond financing overseas, but this does solve the problem of overseas development funds for us.” said the head of China policy.

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