FOSHAN, China, Dec. 2, 2024 /PRNewswire/ -- On November 15, 2024, China's Ministry of Finance announced changes to the export tax rebate policy, affecting industries including aluminum manufacturing. Syharvest Aluminum, a leader in the aluminum extrusion sector, has announced measures to proactively adapt to these changes.
Eddie Tan, CEO of Syharvest Aluminum, noted, "Policy changes bring challenges, but also opportunities. With digital transformation and expertise in precision manufacturing, Syharvest is poised to deliver high-quality products while contributing to the industry's green transformation."
Starting December 1, 2024, the policy cancels export tax rebates for aluminum products and reduces rebates for specific refined oil, photovoltaic components, and non-metallic minerals from 13% to 9%. In response, Syharvest has implemented a comprehensive strategy.
In the short term, the company has leveraged the 14-day window between the policy announcement and its implementation to prioritize shipments for export clients. By operating around the clock and utilizing digital systems implemented since 2023, Syharvest has significantly increased its production capacity from 50 tons to 130 tons per day.
For long-term adaptation, Syharvest has invested over 30 million RMB in a digital transformation project with Schneider Electric, improving production efficiency and transparency. This includes smart production lines and advanced information management platforms.
The establishment of Syharvest Aluminum's subsidiary, Syharvest CNC Processing in 2023, represents a new phase in the group's development. The subsidiary aims to optimize the products structure by transitioning from construction aluminum profiles to industrial-grade aluminum and precision-finished products. Its portfolio now features aluminum heatsinks, industrial lighting profiles, automation industrial profiles, solar frames profiles, medical device aluminum parts, automotive components, and electronics devices parts. The company provides end-to-end solutions, including custom design, extrusion, and precision processing.
Syharvest prioritizes high-value-added orders and collaborates with clients across Europe, North America, Africa, Australia, and Southeast Asia. The company also plans to participate in international trade fairs to expand its market share.
Committed to sustainability, Syharvest installed a 2 MW rooftop photovoltaic system in 2022, reducing CO2 emissions by 2,200 tons.
Syharvest Aluminum is confident that its strategic initiatives will mitigate the impact of the policy changes and drive growth and innovation.
About Syharvest Aluminum
Syharvest Aluminum specializes in custom aluminum alloy production and sales, serving industries such as construction, electronics, and automotive. Known for cutting-edge technology and high-quality solutions, Syharvest is a trusted industry partner.
For more information, visit: www.syharvest.com.
Contact: info@syharvest.com
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Syharvest Aluminum Adapts to New Export Tax Rebate Policies with Strategic Innovations and Green Initiatives
LONDON, Dec. 2, 2024 /PRNewswire/ -- Aon plc (NYSE: AON), a leading global professional services firm, today announced the successful renewal and expansion of the Aon Client Treaty (ACT). ACT is the firm's signature London Market placement facility that helps clients respond to complexity with new sources of capital.
In 2025 – the treaty's tenth year offering innovative, sustainable capacity to clients – ACT will offer 28.5 percent co-insurance across core lines of business placed through Aon's Global Broking Centre in London. This is the treaty's largest capacity increase, up from 22.5 percent in 2024. Since inception in 2016, over $3.5bn in gross written premium has been placed through ACT.
ACT clients will benefit from increased capacity with three new market partners joining ACT in 2025; all existing market partners have also renewed their participation, with QBE continuing as the lead. Additionally, all participating market partners have agreed to a three-year letter of intent, indicating their long-term intent to support the program and demonstrating strong demand from London Market insurers.
Aligning benefits between clients and market partners is foundational to ACT's long-term success, and to further support this, Aon is introducing the ACT Client Dividend in 2025, which is a 1.5 percent reduction applied to the portion of the premium placed through ACT.
Joe Peiser, CEO of Commercial Risk for Aon, said: "The renewal and record expansion of Aon Client Treaty, now in its tenth year, reflects the value it delivers for both clients and participating market partners. As the complexity and size of the risk landscape increases, it is essential that our clients access the insurance capacity they need with speed and certainty."
Tracy-Lee Kus, CEO of Aon's Global Broking Centre, commented: "Innovation is essential to allow clients to access risk capital more efficiently and Aon's significant investment in managing data and information has been a key factor in the growth and sustainability of ACT. We will continue to invest and scale this revolutionary approach to securing risk capital on behalf of our clients.
"The support of market partners, now further strengthened through a three-year letter of intent, is essential to the success of ACT; we are pleased to welcome three new participants and will continue to work closely with our partners to ensure ACT remains a solution that meets the needs of our clients," Kus continued.
ACT is a demonstration of Aon's Risk Capital strategy, bringing together deep expertise and capabilities to provide innovative client solutions, including:
Learn more about the Aon Client Treaty here.
About Aon
Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Through actionable analytic insight, globally integrated Risk Capital and Human Capital expertise, and locally relevant solutions, our colleagues provide clients in over 120 countries with the clarity and confidence to make better risk and people decisions that protect and grow their businesses.
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** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Aon Client Treaty Renews with Record-Setting Support for 2025
