Grace: European Union and Towel Essay

Submitted By Shenquan-Li
Words: 2502
Pages: 11


Grace is a Chinese tradition Towel company. It wants to entry the UK market. The company has it own brand in China. So it may bring it own Chinese way to affect all British people. And the company need to know everything about the towel market in the UK.


Grace is a Chinese towel company in Zhuji, Zhejing Province. It founded in 1986 and re-established in 1996. And it owned factory facilities covering an area of 50,000 square meters. This company output 5,000 tons of terry toweling products annually. Experiencing a yearly sales turnover worth over USD24,000,000 in 2002, it has attained the right to independently conduct import and export trade. Drived to Hangzhou Xiaoshan International Airport from factory used only 30 minutes. Hangjinqu Highway, Hang Yong Expressway and Zhejiang-Jiangxi railway is through the city. Location advantages and traffic advantages are very superior. In 2011, Grace will spend 3.5 billion yuan in Xinjiang Aksu to create the world's largest towel production foundation, and now the project has signed an agreement in Xinjiang local agricultural sector, after two years the base is expected to be put into operation, the ultimate goal of producing 6 million tons a towel, 30 million sets of bed linen and 1 million dozen of socks and underwear, total production capacity than they are now quadrupled.(, 2005) This is a competitive company.


Since April 2008, the company tax rate will be 28% lower than the vast majority of Britain's core competitive power. The UK's corporate tax rate from the early 1980s is more than 50% of the gradual decline in the industrialized world to become one of the lowest rates. The UK's high-end personal income tax rate is 40%, which is one of the lowest all EU countries. The UK is the European Union, WTO and OECD member nations, perform these organizations of the international convention. Some British government comes from the European Union or import requirements in accordance with the provisions of the European Union, the other is its provisions. About the eu countries apply for goods in Britain's provisions of customs formalities or other customs formalities, the scope of the goods arrived in the port is until completely customs clearance, asks according to the European Union council regulation (EEC) No. 2913/92 (Articles 37-57) and the European commission regulations (EEC) No. 2454/93 (Articles 182-189) executive, and according to the No. 2724 legal text (customs regulations on the administration of import goods 1991) and 1992 revision of the No. 3095 legal text (single market goods import taxes and the regulations on the administration of tax) to conduct the prescribed format, the procedure and after an irregularity punishment.

UNCTAD statistics, UK had attracted foreign investment $ 219 billion in 2005, leaped to the world top investment. In 2005 the British GDP income is 1.2247 trillion pounds, up 1.9%, a per capita GDP for 20338 pounds. The British government expected GDP growth 2.09% in 2007 and 2.44% growth. The British government currently use consumer price index (CPI) to measure the rate of inflation, in July 2006, the consumer price index (CPI) is 2.4%; Contains the real estate price "old" retail prices index (RPI) is 3.3%. Britain has a total population of 60.218 million people, in June, 2006, the employment of 28.94 million people, the employment rate 74.6%, the employment of 1.68 million people, 5.5% unemployment rate. In 2005 annual government spend £ 525.9 billion, equivalent to GDP42.8 %. The government deficits 43.7 billion pounds, accounting for GDP3.6 %. 2006 years of the end of may, his government net $20.844 billion foreign exchange reserves, the bank of England net $052 million foreign exchange reserves. On August 3, 2006 the British bank interest rate is 4.75%. 2006 quarter British families saving rate is 6.0%. In 2005 the British goods and services trade export