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Research Questions 1-5

 
 
Commencing March 4th 2009
 
 
Groups will present answers to Questions 1 - 5
 
 
We will present the Body of the Report   On This Page
 
 
Appendicies will be provided  on the Linked Pages

 
Visitors to this site please note:
 
This is Class work!  This is what is presented in class.  Students upload their info using USB's and then I - the teacher - look at it and comment on it.   The students are learning about the world of business and in the process HOPEFULLY they will learn something about Report writing, Appendicies, Referencing, footnotes etc. 
 
They are learning to think further than the initial question.
 
The list of questions may be found HERE
 


Some Lessons we learned in today's Class
 
 
1.  If you only research from ONE INTERNET SOURCE, later when you try to go back to it, that page may no longer exist or may be temporarily be unavailable.   Always provide some alternative sources
 
2.  When you are checking prices and flights on the internet, the page which shows the details of that flight is A TEMPORARY PAGE ONLY, so you cannot provide that page link.  You have to provide the link to the page into which you load your request.
 
3.  When presenting material from your own notes:  a)  Make sure that you use a LARGE TYPE     so that it is easy to read from a distance.  This way you don't have to read with your face in your paperwork.   Listeners should be able to see your face as you talk TO THEM.
 

 
 
 
 
Question 1
 
 

1. What are the current exchange rates against the RMB for:

 

Group 1

  • US $  1 - 6.87 rmb
  • Japanese Yen 1 - .0725rmb
  • Euro  1 - 8.49rmb
  • www.usd-cny.com 2008.11.21   - 5.38pm
 
Group 2
  • Pound Sterling  1 = 11.82rmb

  • Canadian $1 = 5.78rmb

  • Australian $1 = 4.71rmb

 
 
 
Question 2
 
 
 Oil Prices
 

2. Oil

 
 
 
Group 2
  • What was the price as at September 1st 2007 = $74 

  • What was the price in March of 2008 = $98

  • What was the price on September 1st 2008  = $104

  • What will be the price on Septembeer 1st 2009  $112

 
 
Group 3
  • What was the price of crude oil per barrel in September 2005, = $67.57 - $64.37

  •  September 2006. = $67.50

  • Why is the price of crude oil important?      The increase in the price of oil can effect the US economy and can slow down economic growth.

 
New Question:  What has that to do with China?
 
Answer:
 
It effects the exchange rate -  Effects import and exports -  Trade Imbalance
 
 
 
Note that the address supplied by this group for their answers no longer exists.
 
 
These addresses are no longer current.  No other addresses were provided.  What to do?
 
 
 
Note:
 
In Question 3  we encounter our first Appendix.
 
An Appendix contains all the extra information that a person is likely to need in relation to a matter, that was not 'specifically requested in the original question.  It is extra information or expanded information that provides the fullest possible answer.
 

 
 
Question 3
 
 Group 5's answers for economy class were provided as the demonstration of Report writing on THIS PAGE
 
   

3. Overseas Travel

 
Group 3's section was:

You are going to America to investigate the possibility of opening an office there or perhaps to try and make business contacts or do a Sales drive.

  • A - What is the cost in Rmb of a Business class return ticket to New York – and -

  • B - 14 Days of Accomodation in a 4 star hotel while you are there

Answers:
 
A - 75402rmb for Business class ticket -  http://fly.emirates.com
 
We noted 2 things about this answer:   a)  That we really need the cost in US$ -  But the Chinese boss probably wants it in Rmb.
b)  When We checked out the link and enquired again, we discovered that the price has come down by 6,000 rmb since the time that this group first enquired about prices.
 
 

B. -  Hotel Prices:    -    3 choices

 
1. Doubletree Metropolitan Hotel US$4786 - 14 days
 
2.  The Time Hotel US$4316  - 14 days
 
3.  Intercontinental THe Barclay New York US$ 5484.3- 14 days.
 
 
 
 
Group 5
  • What is the cost in Rmb of am Economy class return ticket to New York – and -

  • Average cost of your Meals for the 14 days you are there

 
 
 
A.  Economy Class Return Airfare Shanghai to New York.
 
  
A. i) 
 
Return Airfare Economy Class Shanghai to New York
(Stop Over in London)
 
Minimum: $1514  British Airways (1)  
Maximum: $4502   Japan Airlines
 
 
 
  
Flight Details (2) in Brief:
 
Depart December 4th 2008 
Pudong Airport 10:55am
Arrive JFK 9:50pm 5th December 2008
 
Return January 6th 2009 
Depart JFK 8:40am 6th 2009
Arrive Pudong Airport 7th January 9:25am
 
 
 
A.ii) 
 
Additional costs: (3)
 
  
Travel Expenses Yanchang - Shanghai
 
140rmb Approx Return
 
Meal Expenses during Travel
 
100 rmb Approx
 
Overnight Hotel Stay required Shanghai
 Hotel December 3rd : Undetermined.
 
Note: (4)
There may be a need for an overnight stay near JFK in New York.
 
 
 
Still need the hotel rates from Group 5
 
 
 
 
 
  [The footnotes go under a line at the bottom of the page.]
1. Photoshot of Flight itinerary: Appendix 4
2. Flight 168 British Airways: Appendix 4.
4. It is unknown at this point where in New York the manager will stay and whether or not it will be convenient to stay the first night in a hotel near to JFK airport.
 

 
 
 
Question 4
 
 
 
 

4. Foreign Expert

 

You have invited a 'foreign expert' to come for 2 weeks to China to help you understand all the 'ins and outs' of setting up an office in China and forming a business association with an American company.

 

  • What will be the FEE or salary must you pay him for his services.
  • What will it cost you for this experts airfares, accomodation and meals.

 
a)  $14,093.75 for 2 weeks  http://swz.salary.com
 
This page took us to a blank enquiry page - so I don't know how you calculated this amount of money.
 
 b)  $1514 - $4502  Appendix 2....
This is the same price as the bosses trip to USA  BUT cost varies from season to season, and company to company, and economy, business, first class.  Even time of day, even whether the flight is almost full. 
 
 
Question 5
 
 
 
 

5. Passports and Visas

 

How and where can a Chinese person get a visa to travel to another country?

  • What is the cost of arranging your passport with Chinese Government

    • What is the cost of arranging a visa to enter a foreign country

    • What types of visa are there and which one do you specifically need for the USA.

     
     
     
    Wed 11th March
     
    It is still being processed. 

     

     
     


     
     
     
     
    6. Salaries and Living Expenses
     
    Detailed Reports See Appendix  7

     
    What is the annual NET income in American $'s of the average American worker.  - $63,091

    What is his annual living expenditure. - $49,638  

    What is his tax rate per annum - how much personal tax does he pay.  - $2233    Tax rate : 25%     (???  $2,233 as 25% = Income of $10,000?????)               

    The net income:  - $11220 

    http://www.bls.gov/cex/ftp://ftp.bls.gov/pub/special.requests/ce/standard/2007/income.txt                                    

    Note we now have 2 different figures for Net Income.  Why?????

     

    What is the annual net income in American $ of the average Chinese worker?   12,108 yuan per annum or $1773 p.a. ( Net income = salary less tax)

    what is his annual living expenditure?    -   7,182 yuan
     
    what is his tax rate per annum - how much personal tax does he pay?  10%
     
     
     
     


    7. Employees

     


    1. What salary does a fully qualified tourism manager receive in China - per annum.
     
    The salary of a qualified tourism manager=basic salary + allowance = 36000 Yuan
     
    Source : Advertisement at http://www.lvyourc.cn/Job239388.html
     
     
    2. What salary does a fully qualified tourist guide receive in China per annum.
     
    500 to 800 (?) ,in addition, they can also have commissions and tips /  How Much per Annum?
     
     
    3. How many hours per week do these people work ON FULL PAY.
     
    About 56 hours per week.
     
     
    4. How many days or hours in the year will they be on holidays ON FULL PAY.
     
    Four (4) Weeks per year
     

     
    8. Office rental
     
    What does it cost to rent a reasonably sized Office in an upmarket section of SuZhou?
    How much insurance must you pay in case of fire or flood.
     
     
    Upmarket section in suzhou

    Suzhou highsalary Science and Technology Parks and Suzhou Industrial Park

    http://housing.jinti.com/housinglist.asp?areaid=2095&adtype=156

    http://housing.jinti.com/2095/15672008/1412535.htm(Suzhou Industrial Park)

    http://housing.jinti.com/suzhou-bangonglou/112008-1867598.htm(Suzhou highsalary Science and Technology Parks)

     Links but no answer

     
     
    Insurance
     
     
    The name :Heng li da comprehensive insurance business

    Composition of the security policy:

    First, some of the property insurance

    Second, some of the liability insurance

    Policy rate

    First, some of the property insurance

    Second, insurance, the industry's own customers should be in accordance with the basic characteristics of the control insurance rates     

    Third, the deductible requirements

    Rate regulation

    http://www.pingan.com/group/insurance/henglida.jsp

     

    How much =  how much money will you pay.  This answer tells me what types of insurance.  Do I need them all?

     

     


          
     

    9. Equipment and Furniture

     

    What does it cost to fill your new office with equipment? For Example:

    Telephone / fax machine / photocopier / water bottle / tea coffee making facilities/

    Your desk / secretary's desk / paper, pens, rulers, staple machine, Computers. etc

    What will it cost to have professionally printed stationary (envelopes, letter heads etc)

     
    Provide a list of items and their cost.
     
     
    Firstly:   This question asks for the Cost of outfitting an office - so there must be an approximate cost provided.
     
    Secondly:  In providing the itemised list there are no explanations of what is provided, eg:  the 105 /6 for Telephone = ?
     
    Is this a price?  Is it the purchase price of a phone?  The monthly expenditure?  The rental?
     
    Calculator -  Only one?
    Desk - only one?
    Chair - only one?
     
    You need an approximate TOTAL cost of outfitting the office and an itemised list that shows how this price was calculated.  Perhaps you forgot to include some important items.

     

     

    items

    websites

    telephone 105/6

    http://item.taobao.com/auction/item_detail-0db1-37f5d294d2b14bd91a7c3f571bd4780f.jhtml

    fax machine 760/10

    http://item.taobao.com/auction/item_detail-0db2-6c3b5272ec8b9c4e778a59ffc6f79a44.jhtml

    laser printer 2450/20

    http://item.taobao.com/auction/item_detail-0db2-6bed03879543bcb97a0293841c2d50b1.jhtml

    calculator 36/5

    http://item.taobao.com/auction/item_detail-0db1-f01bc88e2dcf5056186eeda33510bb4b.jhtml

    drinking water machine 225/0

    http://item.taobao.com/auction/item_detail-0db1-6c649b9a41af88563f0ef88f80b02a04.jhtml

    desk 388/10

    http://item.taobao.com/auction/item_detail-0db2-06dbb9e8039f0efe47e0eb0ace330c75.jhtml?pm1=3

    chair 130/10

    http://item.taobao.com/auction/item_detail-0db2-a32f2eadad96b6db3d8feec9670ef7c9.jhtml

    bookcase 166/20  

    http://item.taobao.com/auction/item_detail-0db2-95c5dd605c6991c93ecb774c14ace745.jhtml

    paper A4(80g) 19/7

    http://item.taobao.com/auction/item_detail-0db2-97fe3daf1901f22fddc199057873e9f4.jhtml

    pen      1

    market

    ruler      4

    market

    staple   12

    market

    file  7

    market

    cup  3

    market

    curtain 35/5

    http://item.taobao.com/auction/item_detail-0db1-03ac25e3c8982bd83a682ec825f174bf.jhtml

    laptop     

    6100    

    market

    desktop   

    4500

    market

    air conditioner

    2500

    market

    envelopes 2

    market

     

     
     Still to be answered?
    • When renting office space in YOUR CITY, what building maintenance fees do you have to pay - over and above your rent.

    • How much insurance must you pay to offset any 'compensation' claims from your customers (failed tours - injury - accidents - lost luggage etc)

     
     
      

    10.Professional Services:

     

     

          You will need to retain a Lawyer and an Accountant and Advertising angency to handle all

    your legal accounting and advertising affairs.What fees areassociated with these.

     
     
    Lawyer: 3000RMB
     
     
    Accountant:1500RMB
     
    It depends on the economic level
     
    Advertising agency:
     
    It depends on.  On the average: about two percent of the earning.
     
     
     OK!  Good so Far but:   Is the 3000rmb for a Lawyer the annual fee, or one month consultation, or one time consultation, or the cost of having him draw up a contract?
     
    The Accountant gets a set fee?  Or a Percentage of your annual profits?  Is it negotiable?
     
    Advertising:  2% of earning refers to what?  How much you earn per year?  How much revenue is gained from an advertising campaign?
      
     
     
     
     The Business world is not so simple as it sounds is it?  
     
    Get money and live free yeah?
     
    But there are so many things to pay for?
     
     
     

    Q. 11
     
     

    http://ks.cn.yahoo.com/q estion

    Registered capital amount International travel service at least 1.5 million.

                            Chinese domestic travel service at least o.3 million

    Quality deposit  International travel service operate entry travel service pay o.6milllion

    exit travel service pay 1 million ; International travel service pay o.1million

     

    http://www.9tour.cn/scenic/city3/4649/

    Yes, the discount which tour operator will be given for his tour group is about 83%

    National Museum of ChinaAdults pay 30 RMBadults group pay 25 RMB.

    When in special festivals(such as Children's Day ,Women's Day) ,the entrance

    fee is free for some people

       

    Post code 100006

    Tel86-10-65128901

    Fax86-10-65128986

    Website http://www.nmch.gov.cn

     

     

    11License and fees

    http://www.lawinfochina.com/law/displayModeTwo.asp?id=1318&keyword=

     

    Article 8. Tourist agencies of Category 3 may register andcommence operations only under the following prerequisites:

    (1) Having articles of association for the tourist agency to beestablished, which are in conformity with the State provisions;

    (2) Having a fixed site for setting up an office and forconducting business operations;

    (3) Having a registered capital of RMB 30,000 yuan or more;

    (4) Having the organizing ability to provide, within theirscope of business, the tourists with various services that meet thestandard service requirements;

    (5) Having a contingent of administrative and service personnelwho are familiar with tourist business.

     

      Q. 12
     

    Magazine Prices for 2008

    position

    size

    Inner size

    RMB

    cover

    419×270

    425×276

    23.8

     

    content

    212×270

    218×276

    10.8

    Inner first page

    212×270

    218×276

    9.6

    Front cover

    424×270

    430×276

    16.8

    Middle cover

    424×270

    430×276

    15.8

    Back cover

    424×270

    430×276

    14.8

    Cover 1

    212×270

    218×276

    11.8

    Cover 2

    424×270

    430×276

    13.8

    Cover 3

    212×270

    218×276

    9.6

    Bottom cover

    212×270

    218×276

    14.6

    Inner page

    212×270

    218×276

    9.2

     

     
     
     

     
    Q. 13
     
     
     
     
     

     
     
    Q. 14
     

    From Huaxia Travel Agency (Tel: 0515-8187726   8222318   Address: Jianjun east road 62, Yancheng)

    Wage of staff: 500~1000RMB+reward

    Rent: +20,000yuan each year except water and electricity supply

    Vehicle: bus (whole bus or single)

    License:

    Advertisement: several thousand each year

    Tax:

    Insurance:

    Lawyer:

    Accountant:

    Guest accommodation: depends on what hotel you want

     

     

    From China Youth Agency

    Wage of staff: +100~1000RMB+reward

    Rent: 1300yuan for two rooms each month

    Vehicle: bus (whole bus or single)

    License: no pay for annual, pay the liability insurance, which contact with the insurance firm, pay 200yuan for changing the license once 3 years

    (from  Yancheng Tourism     Tel: 0515-88356861)

    Advertisement: several thousand each year

    Tax:

    Insurance: 70~80yuan for bus company ; 1.5yuan each person for personal insurance

    Lawyer: no

    Accountant: no

    Guest accommodation --depends on what hotel you want

     

     

    The example of travel rates:

    Beijing five solo tour (Holiday Air Travel     Tel: 88308879)

    1、             traffic: one plane, one-way train hard seat (sleeper need, when they make up the difference in the enrollment 130yuan/person),air-conditional tour bus;

    2、             accommodation: double standard room (air-conditional, color TV, independent bedroom);

    3、             meals: soup eight meals (4 dinners, 3 breakfast, self-catering on the train);

    4、             insurance: travel insurance;

    5、             price: 1090yuan/adult (<1.4m children 790yuan/person, including air tickets, parking spaces in Beijing, meals not including tickets, train tickets, do not account for bed )

     

     

    (Yancheng Civil Aviation Ticket Office      

    Address: 34 jianjun middle road, yancheng

    website: www.yccas.com)

    Mudu Suzhou, Tianmu Lake two-day tour

    (Yancheng “Four Seasons Tour” of the Commonwealth Tourism    website: www.ycsjzl.cn)

    1、             transportation: air-conditional tour bus;

    2、             accommodation: double standard room;

    3、             meals: eight meals soup

    4、             insurance: travel insurance;

    5、             price: 388yuan/adult (198yuan/child, not including tickets, do not account for bed)

     

     
     
     

    Q. 15
     
     
    创建时间:2009年3月20日

    http://www.marketclocks.com/index.php?content=market&region=1

    http://www.wisegeek.com/what-is-a-tariff.htm

    A tariff is a tax placed on imported goods. Each country has separate tariff regulations. The five main types of tariffs include revenue, ad valorem, specific, prohibitive and protective.

    http://www.selloverseas.co.uk/importance-understanding-tariff.html

    It is important that your international business understands in detail how the Tariff operates and how to use it to accurately identify the goods you trade with other countries. Any mistakes in the classification of any goods could mean your business will pay too much customs or excise duty. Your business can subscribe to an email newsletter that can keep your business up-to-date with the latest changes to the Tariff.

    http://www.vietnam-ustrade.org/index.php?f=news&do=detail&id=32&lang=english

    Under the Law, all goods which are exported or imported across Vietnamese borders, or pass between domestic market and a non-tariff zone and vice versa are subject to export or import duty except goods in the following circumstances:
    • Goods in transit;
    • Humanitarian and grant aid goods;
    • Goods exported abroad from a non-tariff zone, goods imported from abroad into a non-tariff zone for consumption there, and goods passing between non-tariff zones;
    • Oil and gas exports which are subject to natural resources royalties.
     
     
     
     

    Q.16

    Q16

    1.Assume 100shipping container→500$(FootnoteA)

    2.Lianyuangang→Boston

    40GP    4000/container (http://ship.shippingchina.com/fclprice/index/index.html  )

    3.8/container
    (
    Insurance fees decided by the value of commodity)

    4.Substandards goods→confiscated

      People involved→fined($10000-$20000)

      Pay double of the profits they earned to Gov.

      Compensation (FootnoteB)

            

    FootnoteA

    Ocean

    20’ container

    $3800

    40’ container

    $5000

    *LCL

     

       1 Pallet

    $750

       >1 Pallet

    $550/pallet

     

    FootnoteB

    Standards of compesation

    .

    货币:

    美元

    箱龄

    20GP

    40GP

    40HC

    20HC

    45HC

    20FR

    40FR

    20OT

    40OT

    20RF

    40RH

    0

    3200

    4300

    5000

    4600

    6600

    5500

    7500

    4000

    5000

    25000

    33000

    1

    3040

    4085

    4750

    4370

    6270

    5225

    7125

    3800

    4750

    23750

    31350

    2

    2880

    3870

    4500

    4140

    5940

    4950

    6750

    3600

    4500

    22500

    29700

    3

    2720

    3655

    4250

    3910

    5610

    4675

    6375

    3400

    4250

    21250

    28050

    4

    2560

    3440

    4000

    3680

    5280

    4400

    6000

    3200

    4000

    20000

    26400

    5

    2400

    3225

    3750

    3450

    4950

    4125

    5625

    3000

    3750

    18750

    24750

    6

    2240

    3010

    3500

    3220

    4620

    3850

    5250

    2800

    3500

    17500

    23100

    7

    2080

    2795

    3250

    2990

    4290

    3575

    4875

    2600

    3250

    16250

    21450

    8

    1920

    2580

    3000

    2760

    3960

    3300

    4500

    2400

    3000

    15000

    19800

    9

    1760

    2365

    2750

    2530

    3630

    3025

    4125

    2200

    2750

    13750

    18150

    10

    1600

    2150

    2500

    2300

    3300

    2750

    3750

    2000

    2500

    12500

    16500

    11

    1440

    1935

    2250

    2070

    2970

    2475

    3375

    1800

    2250

    12500

    16500

    12

    1280

    1720

    2000

    1840

    2640

    2200

    3000

    1600

    2000

    12500

    16500

    Lowest

    1280

    1720

    2000

    1840

    2640

    2200

    3000

    1600

    2000

    12500

    16500

    http://www.hanjin.com/cn/

    http://www.hanjin.com/eservice/cn/demdet/chargeInquiryInput.do

    http://www.hanjin.com/eservice/cn/surcharge/inputNew.do

    http://www.chineseshipping.com.cn/yunjia/yunzhi.asp(中国航运网)

    Insurance fees decided by the value of commodity

    http://www.cscl.com.cn/info/contact.jspcompensation

     

     This is still a work in progress folks!