PHILADELPHIA, December 4, 2000: Howard B. Asher, CPA, Chairman of the Board, of Asher & Company, Ltd., recently spent three weeks in China, during which he met with several of that country's most influential corporate leaders. With China's eventual entry into the World Trade Organization a foregone conclusion, the significance of being prepared with a sound understanding of that country's cultural and industrial philosophy cannot be overstated. Sweeping fiscal reforms during the last two decades allowed Howard to observe a renewed China, energized by the hopeful perspective of a fiscally promising future. Recently restructured tax laws and revisions to the State Owned Enterprise (SOE) and Profit Retention systems have resulted in a national economic profile more closely resembling those of many western nations. One notable change has been the Chinese government's decision to restrict its involvement in commercial enterprise, the impact of which has generated growth by allowing businesses to compete on a much more level playing field. Most importantly, these changes continue to create incentives and spark opportunity, not just for China but for the corporate world at large.

Shortly after his arrival, Howard met with Ms. Cen Jing Lan, CPA, CVA, and Real Estate Appraiser, and Ms. Chen Hong, CPA, two partners at the Moore Stephens Bejiing office. Later, Howard traveled to Shanghai, China's most industrially advanced city, where he met with Chen Derong, CPA, Board Chairman of the Moore Stephens organization located there. The two were also joined by Yu Shijun and senior staff accountant, Lu Xiechaeo. Shanghai, just one of several provinces in the Yangtze River Delta with strong market driven economies, continues to rank among China's most promising international trade hubs. Finally, Howard traveled to Hong Kong to meet with James Fulton, a partner in that city's Moore Stephens affiliate. Howard was delighted to learn that Moore Stephens/China is the country's sixth largest financial firm, employing a workforce of over 600 in the country's five offices.

As he traveled throughout China, Howard observed, first hand, the effects of ongoing fiscal reform. Likewise, he had the opportunity to discuss many professional and political topics with his Moore Stephens counterparts and other corporate colleagues. The exchanges were both lively and enlightened. As always, in accordance with his long-time professional philosophy to keep his firm on the cutting edge of the competition, Howard Asher has begun laying the groundwork for developing contacts and creating clients from among the countless Chinese companies planning to do business in the eastern United States.

Asher & Company, Ltd., known internationally as Moore Stephens Asher & Company, P.C. is a full-service consulting and accounting firm located on Rittenhouse Square in Philadelphia, PA, USA. The firm currently serves over 35 international clients.

From left to right: Yu Shijun, Lu Xiechao, Howard Asher, and Chen Derong of Shanghai Gong Zheng Certified Public Accountants.