U.S. companies spend 200 million yuan to Shanxi billion yuan coal mine control stake

The retired workers in Jincheng, Shanxi Province, have recently reflected: America's Asian and American Continental Coal Co., Ltd. invested only 30 million U.S. dollars (even if the price at that time and only 200 million), it has a value of nearly tens of billions of yuan of state-owned coal mine-Asia-America Daning Energy Co., Ltd. 's control and management, the foreign party in cooperation with China,　　There are many illegal and irregular problems in the process of production and operation. Armedanine by the Asian and American Coal, Shanxi Orchid Branch Chong Co., Ltd. and Shanxi Province Coal Marketing Corporation Jincheng branch in 2000 jointly funded the formation.　　According to regulations, foreign-invested enterprises engaged in coal mining, its coal production license should be issued by the state-level coal production management department, but the Armedanine license is issued by Shanxi Province Coal industry department. The reporter sees in the Asian and American daning production report, the mine this March coal Susan nearly 70%. It is understood that dares to Susan so many, either destroys the monitoring equipment, either with the supervisory personnel complicit, such Susan hidden danger is heavy.　　But Jincheng a number of relevant departments and the Yangcheng County government did not have a pair of its illegal action to take any measures. It is reported that 1999, Jincheng municipal government to invest in the United States. Asian and American coal with false information, the end only out of less than 22% of the capital, but has 56% of the cooperative company equity. Last June, the company acquired a 78% per cent stake in the Asian-American Hong Kong Company by about 430 million US dollars and became the actual controller of Armedanine. Singapore Wanpu is a wholly-owned subsidiary of the Thai Wanxiang Group Corporation for Overseas Investment, and Hong Kong was incorporated in Hong Kong by Asian and American Coal in 2007.　　December 2007, the Asian and American Daning coal mine just put into production soon, the foreign decided to hold the cooperation company 56% of all shares transferred to Asia and America, disguised as the sale of China's mineral resources, profit nearly 3 billion yuan, but a penny of the tax is not paid. According to analysis, the foreign party will be all of the cooperation of the company's equity transfer to just set up, and no real business operation of the overseas subsidiaries, is to circumvent the orchid company as a partner in the process of transfer of shares of shareholders should enjoy the right to avoid the approval, supervision. This should be an invalid act. According to People's Daily