Who is Yang Bin? Former Chief Executive of Sinuiju, North Korea

Yang Bin is a Dutch native of China. Yang Bin, a Dutch native of China who has just been appointed as the head of the Sinuiju Special Zone in North Korea, was detained in Shenyang at 5: on October 4th for tax evasion. A Sinuiju spokesman confirmed this.

The report instructed China officials that Yang Bin was detained by the authorities before leaving for Sinuiju this morning.

China News Agency reported the news briefly this morning.

The mainland media reported a few days ago that the tax authorities in Shenyang have issued a notice to the Eurasian industrial company held by Yang Bin and related enterprises, demanding to pay the tax arrears.

Yang Bin, who is also the chairman of Eurasia Agriculture, a listed company in Hong Kong, reduced his shareholding in Eurasia last week, reducing his shareholding to at least 5%.

Yang Bin admits that it owes 1 million yuan in taxes

(Shenyang Comprehensive Power) Yang Bin, chairman of Eurasian Agricultural Holdings, who was recently appointed as the head of the special economic zone in Sinuiju, North Korea, admitted yesterday that it owed 1 million yuan in taxes. However, he stressed that these taxes have nothing to do with Europe and Asia listed in Hong Kong.

China News Service reported on Wednesday that Shenyang Local Taxation Group has issued a notice to Eurasia Group and related enterprises, demanding that the tax arrears be settled. Although it was reported as early as July that Yang Bin was being investigated for tax evasion, it was the first time that China officials confirmed the news.

Yang Bin held a press conference at the Shenyang headquarters of Eurasia Group yesterday and said, "This matter has nothing to do with Eurasia Agricultural Holdings, but mainly involves Eurasian investment in tourism and real estate." Eurasian Agriculture is a listed company in Hong Kong.

He added: "That's mainly construction and real estate taxes."

Yang Bin said, "The deadline for us to pay taxes expires on October 12th, and we have discussed this with Shenyang Taxation Bureau."

The International Finance News reported earlier that the problem in Yang Bin should be the construction of the Dutch village in Shenyang. It is reported that he was suspected of illegally using land in related projects, and turned the Dutch village planned for eco-agricultural development into a real estate project in disguise, and was also suspected of tax evasion.

Yang Bin suddenly left Shenyang in early July. It is reported that he absconded abroad. Unexpectedly, he suddenly appeared recently and became the head of the Sinuiju Special Economic Zone in North Korea. China's official response was low-key.

In Hong Kong, the shares of Eurasia Agriculture were suspended on Monday, and the company announced that Chairman Yang Bin would sell his shares for the second time in a week, which reduced Yang Bin's share in the company to 46.7%.

The share price of Europe and Asia, once the darling of the market, has fallen in recent months due to concerns about the transparency of the companies concerned.

On the other hand, Yang Bin said that he would extend the exhibition to South Korea. He was originally going to South Korea to arrange for foreigners to enter the Sinuiju Special Zone in North Korea without applying for a visa.

He said that it is unauthorized for foreigners to enter the SAR visa-free from Tuesday. This didn't happen because of North Korea's blocking.

He admitted at the press conference: "This is my personal fault."

He will be extended to South Korea and Japan in order to focus on solving the visa problem and a big problem: building a wall to separate Sinuiju from other parts of North Korea.

Yang Bin said that he hoped to build a temporary fence until the permanent fence was built.

In a report from Beijing, Yonhap News Agency of South Korea said that Yang Bin, a wealthy Dutch Chinese businessman appointed by Kim Jong Il, the top leader of North Korea, was detained by China police in Shenyang on Friday morning.

The report quoted a China official as saying that Yang Bin was detained while preparing to go to Sinuiju.

at present, this report has not been confirmed by relevant parties.

Yonhap News Agency reported that although the reason for Yang Bin's arrest has not been announced, diplomatic sources here said that his arrest was related to tax evasion, stock market speculation and illegal real estate transactions.

The report also said that the China government had instructed the border authorities on Thursday to prevent Yang Bin from going to Sinuiju.

Claiming tax

According to China News Agency, the local tax authorities in Shenyang have issued a notice to Eurasia Industrial Company and related enterprises with Yang Bin as the legal representative, asking them to pay the tax arrears.

However, it is reported that Yang Bin himself said at a press conference that this tax incident did not involve his enterprise Eurasian agriculture. He said that the incident involved investment in tourism and real estate in Europe and Asia.

the headquarters of Eurasian industrial company founded by Yang Bin is located in Shenyang, the capital of Liaoning province. The company has been listed on the Hong Kong stock market.

China media has been reporting that companies in Yang Bin are suspected of illegal land use and tax evasion. Yang Bin himself has always denied these allegations.

Reuters reported that Yang Bin said at a press conference in Shenyang that the allegations mainly involved taxes on construction and real estate, totaling about 1 million RMB.

Yang Bin even claimed that the deadline for tax payment was October 12th, and they had already discussed this with the Shenyang tax authorities.

The establishment of Sinuiju Special Zone in North Korea will benefit China Dandong first

According to Lianhe Zaobao, the establishment of Sinuiju Special Zone in North Korea may benefit Dandong in China first.

However, according to media reports in China, economic and trade officials there are already worried that they may fall behind in the future strength comparison. They pointed out that the preferential policies of "open city" in China have little substantive significance in enhancing Dandong's competitiveness, and "it is of course the best to win the SAR policy".

China's Financial Times reported that Sun Kun, director of Dandong Foreign Trade and Economic Cooperation Bureau, admitted that if the Sinuiju Special Zone is successfully implemented as planned, it will definitely "accelerate the pace of Korean capital and enterprises to Dandong".

Therefore, if North Korea's plan to establish Sinuiju Special Zone can be successfully implemented, Dandong, China will be the first beneficiary. However, Sun Kun also stressed that since only the framework (Basic Law) of Sinuiju Special Zone has been promulgated, its specific details have not yet been implemented, and the situation of Sinuiju "Special Zone" is still unclear. Therefore, all countermeasures are still in the stage of "investigation".

Su Ren, another official of Dandong Foreign Trade and Economic Cooperation Bureau, revealed that on September 22nd, a research team headed by the principal of the Asian Department of China's Ministry of Foreign Trade and Economic Cooperation had arrived in Dandong. Members of the investigation team also include business counselor, Chinese Embassy in the DPRK, Deputy Director of the Foreign Trade and Economic Cooperation Department of Liaoning Province, and Director of the Trade Promotion Department of the Foreign Trade and Economic Cooperation Department of Liaoning Province. Sun Kun denied that the research team came for the Sinuiju Special Zone, but admitted that it was "also one of the main topics of investigation".

It's of great significance to Dandong

Su Ren said that since more than 7% of China-DPRK trade passes through Dandong and 3% of China's export products are made for Dandong, the establishment of a special zone in Sinuiju, 2 meters away, is absolutely "of great significance" to Dandong.

According to the information provided by Dandong Foreign Trade and Economic Cooperation Bureau, the total trade between China and North Korea last year was 739.86 million US dollars (the total foreign trade of North Korea was 2 billion US dollars), of which 573.13 million US dollars (about 1 billion Singapore dollars) were exported, and 47.5% and 54.7% of these two figures were completed through Dandong Port respectively.

At the same time, among China's export products to North Korea, US$ 17.8 million was completed locally in Dandong City, accounting for 29.8% of China's total export to North Korea. Since 199, the average annual increase of import and export between Dandong and North Korea has reached more than 2%.

Su Ren analyzed that since China is North Korea's largest trading partner so far, Dandong and Sinuiju are the "main forces" of the two countries' economy and trade respectively, and the establishment of Sinuiju Special Zone has raised the requirements for infrastructure, such as electricity, roads, water supply and communication, including the fact that most of the general equipment needed by new enterprises will be imported from China, Dandong's foreign trade opportunities can be called "once in a blue moon".

But he also admitted that in the long run, Dandong will also face greater pressure. A director of Dandong Foreign Trade Bureau is also worried that in a few decades, the huge contrast between the east and west banks will be "inverted". That is to say, Dandong may be left far behind by the new "special zone" on the other side, just the opposite of the present situation.

He admits that it is "alarmist" to say this now, but if the Sinuiju Special Zone is established as scheduled, the new policy can be implemented smoothly, and Dandong can't seize this opportunity, especially if the policy is not adjusted accordingly, this possibility is "not nonexistent".

according to the Korean Chosun Ilbo, the income tax rate in Sinuiju Special Zone of North Korea will be 14%, which is 1 percentage point lower than the minimum of 15% in China Special Economic Zone.

"Dandong has fallen behind other regions in recent years." The director said, "the policy given by the state is not enough, and even the blood has been drawn, and many industries have been withdrawn." He admits that if the state still does not pay enough attention to Dandong's policy, Dandong may fall further and further.

He said that Dandong is now an "open coastal area" and failed to enter the ranks of "open coastal cities" in its early years. Nowadays, the preferential policies of these "open cities" have little substantive significance. Therefore, "it is of course the best to win the SAR policy".

"Now may be an opportunity"

He said "Now may be an opportunity", and revealed that related issues have been discussed separately in various departments in Dandong, and "discussion together" may be organized soon.

According to China Business Times, after North Korea announced that Sinuiju, North Pyongan Province, a border city between North Korea and China, was designated as a special economic zone, the prices of steel bars, cement and other building materials in Dandong rose. According to the analysis of relevant people, the real estate prices in Dandong may also rise.

It is reported that the citizens of Dandong are greatly shocked by North Korea's move to designate Sinuiju as a special zone. It is generally believed that Dandong will usher in unlimited business opportunities. However, some people hold different views, which is determined by the objective surrounding environment in which Sinuiju is located.

Dandong is located in the southeast of Liaodong Peninsula Economic Development Zone, at the intersection of the Yalu River and the Yellow Sea, which is more than 36 kilometers along the river with North Korea and across the river from Sinuiju, and is the starting point of the northern end of Chinese mainland's coastline.

Dandong has a total population of 2.4 million, and the urban area has a population of 7,. Railways, highways, water transport and civil aviation are well developed. In addition to domestic routes, dandong port has also opened sea routes to more than 7 ports in more than 3 countries, including Japan, North Korea, South Korea and Russia.