Fiscal Tariff 2008 [32] Provinces, autonomous regions, and municipalities directly under the Central Government, Finance Bureaus of cities under separate planning, the Finance Bureau of the Xinjiang Production and Construction Corps, and Financial Ombudsman Offices of the Ministry of Finance in provinces, autonomous regions, municipalities, and cities under separate planning: I. In accordance with the "Notice of the State Administration of Taxation of the Ministry of Finance of the People's Republic of China on Implementing the State Council's Measures to Accelerate the Revitalization of the Equipment Manufacturing Industry on the Import Tax Policy" (Finance Tariff [2007] No. 11), starting from January 1, 2008 (based on the date of import declaration), import duties and import value-added tax paid by domestic companies for importing certain key components used in the development and manufacturing of large-scale, precision, and high-speed numerical control equipment and functional parts will be subject to a tax refund policy. The refunded taxes will be treated as national investment and converted into state capital, primarily used for enterprise product development and the enhancement of independent innovation capabilities. II. The large-scale, precision, and high-speed numerical control equipment mentioned in Article 1 includes vertical or horizontal machining centers, gantry machining centers (including gantry boring and milling machines), CNC lathes (including turning centers), heavy-duty CNC horizontal lathes (including turning centers), large CNC vertical lathes (including turning centers), CNC milling and boring machines (including milling machining centers), CNC gear hobbing machines, CNC gear shaping machines, CNC gear shaving machines, CNC gear grinding machines, numerically controlled closed mechanical presses, large multi-station presses, CNC laser cutting and laminating machines, CNC falling wheel lathes, and flexible manufacturing systems. Functional components include numerical control devices, high-speed electric axes (machining centers), CNC tool holders, CNC rotary tables, ball screws, linear rolling guides, and automatic tool changers. Detailed technical specifications and requirements are listed in the annex. III. Companies applying for the import tax policy must meet the following conditions: 1) Possess the capability to design prototypes for large-scale, precision, and high-speed numerical control equipment and functional components; 2) Have a relatively complete team of professional technical staff; 3) Demonstrate strong capacity for absorbing and manufacturing technology; 4) Have a clear market and significant user base; 5) Annual sales of CNC equipment or functional components should generally exceed 100 units or sets. During the initial phase of development, this requirement may be adjusted appropriately. Sales of heavy-duty CNC equipment and ultra-precision CNC equipment are not restricted. IV. The list of imported parts and components eligible for tax refunds is detailed in the appendix. In the future, the list will be updated based on company applications, policy implementation, and domestic support capabilities. V. Enterprises that meet the criteria outlined in Article 2 may apply for tax refund procedures in accordance with the provisions of Finance Tariff [2007] No. 11 if they need to import key components listed in the annex. VI. Starting from May 1, 2008, newly approved foreign investment projects that fall under the "Encouragement Category" of the "Foreign Investment Industry Guidance Catalog" (based on the project’s approval, endorsement, or filing date) will be exempt from import tariffs and import value-added tax on self-use machinery listed in the tenth category (1), (2), and (3) of the general equipment and pressure forming machinery within the total investment amount, as specified in the "Catalogue of Imported Goods Not Subject to Tax Exemption for Domestic Investment Projects (Revised in 2006)" (Announcement No. 2 of 2007 by the Ministry of Finance). Projects approved before May 1, 2008, that are eligible for the "Notice of the State Council on Adjusting the Taxation Policy on Imported Equipment" (Gufa [1997] No. 37) will continue to follow previous regulations for imported self-use equipment until November 1, 2008. After November 1, 2008, import duties will be imposed on such equipment, but import VAT will still be exempted. The above-mentioned non-priced imported equipment from advantageous foreign-invested industries, foreign government loan projects, and international financial organization loan projects will be handled according to the two paragraphs above.

PU Resin For Dry-Process Surface Layer

PU resin, also known as polyurethane resin, is widely used in the production of synthetic leather. Synthetic leather, also referred to as faux leather or artificial leather, is a man-made fabric that imitates the appearance and feel of genuine leather. PU resin is a key component in the manufacturing process of synthetic leather, as it provides the material with its durability, flexibility, and water resistance.

The process of producing synthetic leather involves coating a fabric substrate, such as polyester or nylon, with a layer of PU resin. This resin is typically applied in liquid form and then undergoes a curing process to solidify and bond with the fabric. The resulting material has a leather-like texture and appearance.

PU resin offers several advantages for synthetic leather production. It has excellent abrasion resistance, making the synthetic leather more durable and long-lasting. It also provides flexibility, allowing the material to be easily shaped and molded into different forms. Additionally, PU resin offers good water resistance, preventing the synthetic leather from absorbing moisture and becoming damaged.

Moreover, PU resin can be customized to achieve different finishes and textures, such as smooth, grainy, or embossed patterns, depending on the desired aesthetic. It can also be colored in various shades to mimic different types of leather. This versatility makes PU resin a popular choice for synthetic leather manufacturers.

Overall, PU resin plays a crucial role in the production of synthetic leather, providing the material with its desirable qualities of durability, flexibility, and water resistance.

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