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China's Gree vows to further expand US market

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China's Gree vows to further expand US market

Xinhua, March 31, 2019

Gree, a leading appliances manufacturer in China, has announced plans to further expand the U.S. market.

At a strategic planning event on Friday that attracted hundreds of participants, Ouyang Jun, a senior overseas sales executive, said: "Since entering the United States at the end of 2015, the Gree-America commercial team has steadily opened the mainstream of the U.S. heating, ventilation, and air conditioning (HVAC) market, making the 'Made in China, Loved by the World' concept integrated into the American HVAC market."

"In the next two to three years, the Gree-America commercial team's goal is to set up a marketing network throughout the United States." At present, Gree's marketing network covers 22 states.

Gree is expanding its market in the United States against the backdrop of the White House's "America First" policy and increasing tariffs on imports from various countries, said Jun. "If we can succeed in the American market in this context, we will be even more confident in promoting the 'Made in China, Loved by the World' concept."

Since entering the U.S. market, the Gree-America commercial team has overcome the differences in culture and in economic systems between the two countries, and has quickly tailored its sales methods and services, he said.

With the efforts of the team, Gree has won higher recognition and appreciation by the U.S. HVAC industry, he said.

http://www.china.org.cn/business/2019-03/31/content_74630574.htm
 
Good Chinese brand appliances are simply the best, murican brands look primitive compared to the Chinese.
 
Gree to Pump USD790 Million in China Tax Savings Into R&D

DOU SHICONG
DATE : APR 09 2019/SOURCE : YICAI

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Gree to Pump USD790 Million in China Tax Savings Into R&D

(Yicai Global) April 9 -- Gree Electric Appliances, the world's biggest maker of home air conditioners, plans to plough into research and development the CNY5.3 billion (USD790 million) it got to keep last year thanks to China's tax cuts.

The money saved will be spent on core technologies, China Taxation News reported today, citing Dong Mingzhu, chairwoman of the Zhuhai-based home appliance giant. The amount is expected to increase again this year.

Gree's R&D outlays reached CNY5.7 billion in 2017, placing it sixth last year on the National Intellectual Property Administration's list of authorized patents with 1,834, Dong told China Taxation News.

The report added that according to the company's own calculations, CNY1.3 billion resulted from a revamped value-added tax replacing business tax, while CNY583 million came from VAT cuts and CNY3.2 billion from lower income tax.

China started replacing business tax with VAT in 2016. Last May, it cut the 17 percent and 11 percent VAT rates to 16 percent and 10 percent, respectively, and dropped them further for many sectors, including manufacturing, from 16 percent to 13 percent this April.

The latest VAT cut will trim Gree's tax burden by CNY1.3 billion this year, and the company will enjoy a larger overall tax reduction in 2019 if other financial indicators are unchanged, according to the company's figures.

The government's tax policy includes the deduction of R&D expenses and tax incentives for high-tech enterprises to help support innovation. In the past three years that saved Gree CNY5.8 billion, Dong said.

https://www.yicaiglobal.com/news/gree-to-pump-usd790-million-in-china-tax-savings-into-rd
 

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