How many furniture companies are exporting through vietnam quality control in china gas out game instructions

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On the evening of November 8, Yongyi shares announced that the company will build an office furniture production base in Vietnam. On the evening of November 23, Meikemeijia announced that it plans to increase capital for three companies located in Vietnam. In addition, furniture companies such as Minhua and Henglin have also established factories in Vietnam.

This phenomenon has occurred in this year’s blowout: In June 2018, Man Wah Holdings acquired a Vietnamese company engaged in the production and sale of sofas for US$68 million. gas mask tattoo The Target Group is mainly engaged in the production and sale of sofas and exports to overseas markets. electricity font The commencement ceremony of the construction of the new plant project was carried out on October 9. It is expected that the plant will start production in the fourth quarter of 2019.

On the 23rd of the same month, Meike Home announced that it plans to increase the capital of three companies located in Vietnam, with a transaction amount of about 181 million yuan. According to the announcement, this move is to improve the global allocation of the supply chain, optimize the production capacity, and make Southeast Asia the main source of supply for the North American market.

On the evening of the 26th of the same month, Henglin announced that it plans to set up a wholly-owned subsidiary in Vietnam for US$48 million to build a Vietnamese office and civilian furniture manufacturing base. The announcement stated that it is in line with the strategic direction of “One Belt, One Road” and is conducive to avoiding trade friction risks and fully exploiting the international market.

The first is the cost of employment in Vietnam. Although Vietnam’s wages have increased significantly in recent years, according to a report in Vietnam in July, the average monthly wage of Vietnamese workers was 240 US dollars in the first half of 2018, equivalent to less than RMB 1,700, even lower than many domestic provinces and cities. Minimum wage line.

From a policy perspective, the domestic “One Belt, One Road” policy has laid a broad road for enterprises to set up factories in Vietnam. electricity and circuits class 6 pdf Vietnam has also been promising policies for foreign-invested enterprises. Foreign-invested in Vietnam can enjoy the “two exemptions and four reductions” tax concessions. The first two years are exempt from corporate income tax, and the latter four years are halved.

Sino-US trade friction has made many furniture companies very difficult. on q gas station okc In 2017, China exported 1.36 billion US dollars of wood furniture, of which 5.288 billion were exported to the United States. Taking foreign trade enterprises as an example, the data shows that the net profit of many foreign trade enterprises has declined this year. j gastroenterol For example, Henglin shares have a net profit of 0.57 billion yuan in the first half of the year, a negative growth of 45.47%. More corporate net profit is negative.

By borrowing from Vietnam, enterprises can reduce costs on the one hand and rationally avoid the risk of trade friction on the other hand. electricity and magnetism At present, Vietnam has signed 12 free trade agreements, and the free trade agreement with the EU is expected to enter into force in 2019. This means that Vietnam will become a stepping stone for many furniture companies to open up the international market.

And will furniture companies use the Vietnamese exports to attract US attention? The answer is also unknown. There is a foresight: In May 2018, the number of Vietnamese exports of steel products to the United States surged, which triggered the attention of the United States. After investigation, the US Department of Commerce decided to impose high tariffs on steel products imported from Vietnam and originating in China. The same crisis will also fall on furniture companies.