large chinese aluminum-products maker zhongwang under u.s. investigation on \"unfair\" trade practices
President-elect Donald Trump vowed during his campaign to bring more jobs home, especially in China.
He may start with a company: the largest in China and the second largest in the world.
The largest aluminum extrusion enterprise: Zhongwang Holding.
At present, the company is in the United StatesS.
Suspected of evading import taxes of up to 374% through the United StatesS. -
Based on subsidiaries.
It is said to be linked to 6% of the world\'s aluminum inventory at a factory in the Mexican desert.
Last month, the United StatesS.
The Commerce Department announced that a product exported by Zhongwang aluminum evaded US exports. S.
According to its preliminary investigation, anti-dumping restrictions.
The final decision will be announced next month.
\"This decision has no effect on our sales and operations,\" said Lu Changqing, president of China net, according to a press release on the matter.
\"According to the customer\'s requirements, we exported 5050 small quantities of profiles from 2013 to the beginning of 2015, less than 0.
During that time, we had 1% of our total sales, \"Lu explained, referring to the type of aluminum being investigated.
This is not the first time China has faced commercial anti-dumping and countervailing investigations.
Fast growth in the United States in 2010S.
Attracted the attention of the department.
However, the situation at that time did not attract much attention.
On October 2015, the aluminum extrusion Fair and other petitioners held a hearing again, asking the Ministry of Commerce to investigate the \"unfair\" trade behavior of Zhongwang.
Following the Wall Street Journal report on Wang and Mexico\'s inventory, and the strong push from other trade organizations, the petition was successful.
The aluminum extruder board said on its website that the time reported by these media was \"perfect \".
\"Our autumn meeting is based in Washington, D. C. C.
\"We were able to bring our case to Capitol Hill,\" it said online . \".
Trump talks about China\'s trade, whether it is a transshipment and misclassification to avoid high-level US intervention. S.
China\'s tariffs on excess aluminum have put pressure on the already tense US economy. S. -
China\'s trade relations in the aluminum industry, United StatesS.
It is China\'s largest export destination.
In recent years, China\'s aluminum industry has been accused of being heavily subsidized by the government, damaging the economic interests of the United States. S. producers.
Today, only two smelters are fully operational in the United States. S.
According to The Aluminum Association, eight smelters have either been closed or cut since 2015.
In three years, jobs in the direct aluminum industry have dropped by nearly 60% to about 5,000.
The other side of the story is that AmericaS.
Aluminum customers benefit from cheap products in China, thus reducing costs and potentially promoting sales and creating more jobs.
Under the leadership of Trump\'s new administration, the United StatesS. -
China\'s trade policy with China is not clear, and trade relations are facing uncertainty.
During his campaign, Trump said he would impose a 45% tariff on Chinese goods and call China a currency manipulator from the first day he took office.
But the question is: will he really make the campaign slogan a reality? How will China cope with the possible trade war?
\"It turns out,
Operation is the only right way for China and the USS.
Chinese President Xi Jinping said in Mandarin with Trump last month. Zhongwang’s U. S.
The United States of Business NetworkS.
Since its expansion in 2009, the company\'s business has experienced ups and downs, and the company was listed in Hong Kong in the same year. In 2009, U. S.
Income reached 5 billion yuan ($740 million)
By contrast, RMB 0. 214 billion ($31. 6 million)in 2008. That rapid U. S.
Increase attracted the attention of business in 2010.
The Ministry of Commerce announced the names of several state-owned aluminum extrusion companies and asked China to respond.
But the company did not respond.
In the United States of 2011 companiesS.
Revenue plummeted to 0. 404 billion yuan ($59. 7 million).
In its 2011 annual report, the company blamed the Ministry of Commerce for its countervailing duty investigation.
But it rebounded again in 2012, reaching 1 yuan. 1 billion ($160 million).
The petition of the aluminum extrusion Fair Trade Commission included a report from Dupré Analytic on July 2015
A file company specializing in the investigation of Chinese companies.
According to the report, China net has achieved success in establishing the US market. S.
The business is so fast that it has something to do with China\'s official undisclosed global network in Mexico, the United States. S.
Some subsidiaries in Vietnam and Malaysia help to re-
Melting and exporting aluminum to the United StatesS.
To avoid duties.
China firmly denies all allegations. Mexico-
Aluminum smelting group based in the United States and the United StatesS. -
The two companies based in the perfect aluminum industry may be controlled by Liu Zhongtian, chairman of China net.
Report shows, re-
Liu\'s son-owned aluminum melting plant received Zhongwang aluminum shortly after its establishment in 2010.
However, in this slow process
Molten aluminum produced inventory at the facility, causing the U. S.
The government has doubts about the source of Zhongwang aluminum.
As early as 2014, when a business man from Calico flew over a Mexican town in the Goda Mountains on a private plane, he found a large amount of aluminum.
He took a picture.
He found 850,000 tons of aluminum. -
6% of global aluminum stocks.
It wasn\'t long before I found out who the mysterious master was. Liu Zhongtian.
According to The Wall Street Journal, Jeff Henderson, the newly elected chairman of the aluminum extruder Committee, is convinced that aluminum is related to Liu\'s Zhongwang Holding Company.
Reports also say California
The headquarters is located in perfect aluminum and China net.
Perfectus was formed by the merger of Pengcheng aluminum and global aluminum in 2014.
Liu\'s son served as the perfect president.
This year, the Commerce Department began investigating New Jersey-
Headquartered in Pengcheng and aluminum shape Co. , Ltd. Owned by global aluminum industry. Hong Kong-
The day after the report was released last year, shares of the listed Zhongwang stock were suspended.
Shares fell 18% after trading resumed.
On August 2015, the company issued an announcement--
Deny all allegations by listing 11 rebuttals and strongly condemn Dupré Analytic for causing financial losses to the company in the stock market.
Zhongwang believes that other companies that help the company\'s overseas business are independent of Liu and Zhongwang.
Five of these companies are Chinese suppliers and two are customers, the report said.
The China Nonferrous Metals Industry Association has stepped in on Mexican transshipment charges, saying they are \"seriously inconsistent with the facts \".
Its response noted that, first of all, if the aluminum Commission said that Zhongwang will transfer raw materials, then Chinese companies will not make any profit because the Chinese government will impose a 15% tariff on exports.
Second, if the council says Zhongwang transfers aluminum products and assumes that these products come from Zhongwang, according to the rules of the World Customs Organization, imposing tariffs on aluminum products is neither against China nor against the United States. S. law.
This year, the company has slowed the pace of the US market. S. expansion--
Its main strategy is \"to focus mainly on China and to a lesser extent on overseas \".
According to the interim report of China net 2016, 84% of the company\'s revenue comes from China and 12% from the United States. S.
Wang used to be one of China\'s youngest entrepreneurs, and Liu, 52, was 14 years old. At the beginning of China\'s economic reform, he began working in timber near Changbai Mountain.
Soon after he worked in the steel and cement industries, he moved to Hong Kong in his early 90 s.
He got his first big fortune in the city\'s real estate market.
In 1993, at the age of 29, he founded Zhongwang Holdings.
Today, Liu lives in Liaoning province where Zhongwang\'s headquarters is located.
The net is second-
The largest aluminum extrusion company in the world, producing transportation, machinery and electricity-
Power Engineering Department
In May 2009, the company launched the world\'s largest initial public offering of HK $9 that year. 8 billion ($1. 26 billion).
Holding a 74% stake in the company, net assets of $3.
79 billion, Liu ranked first.
Forbes ranked 2009 in Asia\'s rich list.
He\'s worth $3 now. 1 billion.
Some people say that the success of the network is due to the bold transformation of the 2000 s.
He made a huge gamble, moving from the production of building aluminum profiles to the production of industrial aluminum profiles.
This makes Liaoyang, a small town in northern China, the world\'s leading aluminum-producing base.
Liu seemed strange at the time.
Although Zhongwang is the three major producers in China\'s construction aluminum industry, the industrial aluminum extrusion industry has hardly taken off.
The dispute over the direction of the company led Liu to kick his family out.
In 2002, he fired his brother Liu zhongsuo and paid 5 million yuan per family of his relatives ($740,000)
In exchange for shares in their company.
Sina said in an interview with China News Network station.
On 2009, Liu said: \"You can give your family money, but you should not allow them to work with you.
He thought industrial aluminum was the future, so he led his team to the United States. S.
Study tours from 2002 to 2004.
He bought the world\'s largest aluminum extruder at the time, and since 2004, the company has spent $3 billion and is under tremendous financial pressure. 2005.
In the end, the transformation of Zhongwang to industrial aluminum extrusion products was successful, which contributed to the company\'s IPO.