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| Financial Report to the 3rd Session of the 4th Council Meeting of CAEFI |
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| 2006-12-08 09:58 caefi |
Dear Members of the Council,
The report on the revenue and expenditure of the contributions to CAEFI between January 2001 and June 2006 goes as the following:
I.Revenue from contributions
In light of the Articles of Association, a primary source of CAEFI’s revenue is contributions by member companies. The revenue from contributions between January 2001 and June 2006 was a record-high 16,625,062.31 billion RMB yuan. On the one hand, it is because the previous Council Meeting had passed the new contribution rules, effective as of 2005, in the wake of China’s policy adjustment with regard to social organizations. On the other hand, it is owing to the growing membership in recent years and the timely payment of contributions by the majority of these companies.
II. Expenditure of contributions
The expenditure of CAEFI in the past five and a half years totaled 21,115,006.52 RMB yuan, among which, salaries and miscellaneous social insurance for working staff and retirees according to the national standards stood at 6,869,385.56 RMB yuan; office rentals before October 2004 were 6,526,328.29 RMB on an annual basis of more than 1.6 million RMB yuan; office expenses, 3,100,465.39 RMB yuan; conference expenses, 1,563,784.16 RMB yuan; travel expenses, 2,780,327.12 RMB yuan; and purchase of fixed assets, 274,716.00RMB yuan. The budgetary deficit in the past five and a half years reached 4,489,944.21 RMB yuan. To secure the operation of the organization, CAEFI has explored paid services to offset the deficit, for example, organizing companies to participate in the CIFIT, providing consulting services for member companies, organizing investment fairs sponsored by local governments and authorities, etc.
III. Use of grants and donations from companies
Since 2001, CAEFI has received roughly 1.7 million RMB yuan of grants and donations from member companies. They are: Hong Kong Glorious Sun Group, China World Trade Center Co., Ltd., Motorola China Electronics Ltd., Coca Cola China Beverages Ltd., Nuskin China Daily-use and Health Products Co., Ltd., Tingyi Holding Co., Ltd of Ting Hsin International Group, Capitaland China Investment Co., Ltd., Pro-Health China Co., Ltd., Esquel Group, Degussa China Co., Ltd., China National Cereals, Oil and Foodstuffs Import and Export Co., China Minmetals Co., China General Technology Group Holding Co., Ltd., etc. These grants and donations received were used for Spring Festival receptions and banquets, recreational activities for networking among member companies, CAEFI website development, the purchase of office furniture, etc.
Besides the above-named, some member companies have also bolstered the activities organized by CAEFI over the years in kind through various means. Here, CAEFI would like to extend its appreciation to the above-mentioned donors and member companies providing assistance to CAEFI on all fronts.
In recent years, CAEFI continues to diversify the services provided for member companies, securing the trust and recognition from member companies. In the future, CAEFI will release its latest annual financial report on every council meeting and standing council meeting. We will properly make use of the member contributions strictly in line with the regulations under the principle of “organizing meeting economically”, so as to provide services for the members more efficiently. We are open to the supervision of the members.
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