ICS TRUST NEWSFLASH: Interview with the HKTDC, April 2006

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NEWSFLASH: ICS TRUST - INTERVIEW WITH THE HKTDC

April 7th, 2006

In response to the recent amendments to China's Company Law affecting domestic enterprises, the Hong Kong Trade Development Council, the territory's leading international trade development organization, once again sought input and opinion from ICS Trust (Asia) Limited. In an interview with Ms. Elizabeth Thomson, the President of ICS TRUST, the HKTDC sought clarity on the amendments and the potential impact on foreign companies doing business in China.

Synopsis

The recent amended Company Law - promulgated in the People's Republic of China on 1 January 2006 - reduces the minimum required capital and provides flexibility in capital requirements for domestic Chinese companies. Also incorporated into the new Company Law is the concept of "piercing the corporate veil" which redefines aspects of corporate governance in China. While the latter may cause additional concerns for foreign companies investing in China, the business advice given by Elizabeth Thomson, President, ICS Trust (Asia) Ltd. has been consistent with her approach since China opened up to foreign investment, and that is to use Hong Kong corporate structures to serve as a "firewall" for foreign companies investing in China.

We invite you to view the HKTDC broadcast at the following link: http://webcast.tdctrade.com/060316_01/e.htm

In addition, you can find an article by the HKTDC on the interview with Ms. Thomson at the following link: http://www.hktrader.net/200604/lead/lead-ElizabethThomson200604.htm

Please feel free to contact us for further information on the issues covered in the broadcast, or other inquiries regarding doing business in China. We also invite you to visit our website, which is located at www.icstrust.com.

About ICS TRUST

Since 1980, ICS TRUST has been the market leader in helping entrepreneurs and successful, privately-owned businesses establish and grow their operations in Asia.

For more than 25 years, Hong Kong-based ICS TRUST has been the gateway to China and Asia for businesses from around the world. We understand that our clients want to capitalize on the lucrative opportunities in the China marketplace, but the process is complex and often confusing. With ICS TRUST's team of corporate, legal, financial, accounting, banking and trading experts working together, we are able to provide customized, strategic business counsel to you in order to minimize the risk and maximize the success of your investment in Asia.

Services Provided by ICS TRUST
Corporate Services Integrated Financial Solutions China Structuring Services Asian Trade & Commercial Solutions High Net Worth Client Services		China Business Advice & Structuring Establishing Business in Asia Direct Import Program

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ICS TRUST (ASIA) LIMITED
8^th Floor, Henley Building 5 Queen's Road, Central Hong Kong		Tel: (852) 2854-4544 Fax: (852) 2543-5555 or 2543-4080 Email: ics@icstrust.com Web: www.icstrust.com

Disclaimer: These notes, although considered to contain correct information, are for general information only and should not be considered as legal or tax advice. No responsibility is assumed by ICS Trust (Asia) Limited or its affiliates for any person acting on the information contained herein.