28 JUN 209;
Audit Service Center of China National Audit Office for
Foreign Loan and Assistance Projects
it4                  a
Audit Report
Wkhh4     C 2019 ] 23 #
AUDIT REPORT C 2019 ] NO. 23
Project Name: Dioxins Reduction from the Pulp and Paper Industry
Project Granted by GEF
:  TF011898
GrantNo.: TF011898
Project Entity: International Environmental Cooperation Center
it :    2018
Accounting Year: 2018


目录
ContentS
一、审计师意见…，.,,.,...........．……，.,．……，.,.........．……，,.．……，二，二。．.........．……1
1 .Auditor&sOPinion............．……，.，二，,.,.................．……，.,.,,.................．……，3
二、财务报表及财务报表附注．..．……，................．……，…，…，...........．……，，…5
11 .Financial Stateme以5 and Notes to the Financial St成eme爪5．……，.．……5
（一）资金平衡表．.....．……，.．…，,...........．……，…，.,.．…，.....．……。．.....．……5
i,Balance Sheet.．……，.．……，，二，…，.,.........．……，二，...................．……，．····……5
（二）项目进度表，...........．……，...................................................．……6
11.Summary of Sources and Uses ofFunds by Project Component二，二6
（三）赠款协定执行情况表．...........．……，.,.....................．……，,...．……9
111 .statement of Implementation of Grant Agreement……，......．……，.．…9
（四）专用账户报表．.....．……，,.．…，,.．…，．…，.,...............．……，.....．……，.10
iv.SPecial Account statement···················，····································一9
（五）财务报表附注．．…，，…，........．……，，……，……，…，,.．…，....．……，，……n
v.Notes to the Financial Statements．……，…，,，……，二，…，.................．……15
三、审计发现的问题及建议二，.......．……，....．……，............．·····，·，·····，····……20
111.Audit Findings and Recommendations.,，……，.．……‘．……，.,.........．……，.,20


一、审计师意见
审计师意见
生态环境部对外合作与交流中心：
我们审计了全球环境基金赠款中国制浆造纸行业二嗯英减排项
目2018年12月31日的资金平衡表，以及截至该日同年度的项目进
度表、赠款协定执行情况表和专用账户报表等特定目的财务报表及财
务报表附注（第5页至第19页）。
（一）项目执行单位对财务报表的责任
簖制上述财务报表是你单位的责任，这种责任包括：
1．按照中国的会计准则、会计制度和本项目赠款协定的要求编
制项目财务报表，并使其实现公允反映；
2．设计、执行和维护必要的内部控制，以使项目财务报表不存
在由于舞弊或错误而导致的重大错报。
（二）审计责任
我们的责任是在执行审计工作的基础上对财务报表发表审计意
见。我们按照中国国家审计准则和国际审计准则的规定执行了审计工
作，上述准则要求我们遵守审计职业要求，计划和执行审计工作以对
项目财务报表是否不存在重大错报获取合理保证。
为获取有关财务报表金额和披露信息的有关证据，我们实施了必
要的审计程序。我们运用职业判断选择审计程序，这些程序包括对由
于舞弊或错误导致的财务报表重大错报风险的评估。在进行风险评估
时，为了设计恰当的审计程序，我们考虑了与财务报表相关的内部控
制，但目的并非对内部控制的有效性发表意见。审计工作还包括评价
所选用会计政策的恰当性和作出会计估计的合理性，以及评价财务报
l


表的总体列报。
我们相信，我们获取的审计证据是适当的、充分的，为发表审计
意见提供了基础。
（三）审计意见
我们认为，第一段所列财务报表在所有重大方面按照中国的会计
准则、会计制度和本项目赠款协定的要求编制，公允反映了全球环境
基金赠款中国制浆造纸行业二嗯英减排项目2018年12月31日的财
务状况，以及截至该日同年度的财务收支、项目执行和专用账户收支
情况。
（四）其他事项
我们还审查了本期内报送给世界银行的第12、13、14号提款申
请书及所附资料。我们认为，这些资料均符合赠款协议的要求，可以
作为申请提款的依据。
本审计师意见之后，共同构成审计报告的还有两项内容：财务报
表及财务报表附注、审计发现的问题及建议。
审、、国外流嘛＿:＿、心
’簪6耳下
地址：中国北京市海淀区中关村南大街褥号娜尹影
邮政簖码：100086
电话：86一10一62150750
2


I. Auditor's Opinion
Auditor's Opinion
To International Environmental Cooperation Center
We have audited the special purpose financial statements (from Page 5 to
Page 19) of the Dioxins Reduction from the Pulp and Paper Industry
Project Granted by GEF, which comprise the Balance Sheet as of
December 31, 2018, Summary of Sources and Uses of Funds by Project
Component, the Statement of Implementation of Grant Agreement and
the Special Account Statement for the year then ended, and Notes to the
Financial Statements.
Project Entity's Responsibility for the Financial Statements
The preparation of the financial statements mentioned above is the
responsibility of your entity, which includes:
i. Preparing and fair presenting the accompanying financial statements in
accordance with Chinese accounting standards and system, and the
requirements of the project grant agreement;
ii. Designing, implementing and maintaining necessary internal control to
ensure that the financial statements are free from material misstatement,
whether due to fraud or error.
Auditor's Responsibility
Our responsibility is to express an opinion on these financial statements
based on our audit. We conducted our audit in accordance with the
Government Auditing Standards of the People's Republic of China and
International Standards on Auditing. Those standards require that we
comply with ethical requirements and plan and perform the audit to
obtain reasonable assurance about whether the financial statements are
free from material misstatement.
An audit involves performing procedures to obtain audit evidence about
the amounts and disclosures in the financial statements. The procedures
selected depend on the auditor's judgment, including the assessment of
the risks of material misstatement of the financial statements, whether due
to fraud or error. In making those risk assessments, the auditor considers
internal control relevant to the entity's preparation and fair presentation of
the financial statements in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an
3


opinion on the effectiveness of the entity's internal control. An audit also
includes evaluating the appropriateness of accounting policies used and
the reasonableness of accounting estimates made by management, as well
as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is appropriate and
sufficient to provide a basis for our audit opinion.
Opinion
In our opinion, the financial statements identified in the first paragraph
present fairly, in all material respects, financial position of the Dioxins
Reduction from the Pulp and Paper Industry Project Granted by GEF as
of December 31, 2018, its financial receipts and disbursements, the
project implementation and the receipts and disbursements of the special
account for the year then ended in accordance with Chinese accounting
standards and system, and the requirements of the project grant
agreement.
Other Matter
We also examined the withdrawal application No.12, 13, 14 and the
attached documents submitted to the World Bank during the period. In
our opinion, those documents comply with the project grant agreement
and can serve as basis for grant withdrawal.
The audit report consists of the Auditor's Opinion and two more parts
hereinafter: Financial Statements and Notes to the Financial Statements,
Audit Findings and Reco   r6a   .
Audit Service Center o- naNa ioal      t Office for
Foreign Loan and Assi atae Projets '$
June 28, 2019
Address: No. 4 Zhongguan           venue, Haidian District, Beijing,
P.R. China
Postcode: 100086
Tel.: 86-10-62150750
The English translation is for the convenience of report users; Please take
the Chinese audit report as the only official version.
4


II. Financial Statements and Notes to the Financial Statements
i. Balance Sheet
BALANCE SHEET
2018 4- 12 )A 31 5
(As of December 31, 2018)
#J: 4 *7T&A1*MAkM MA           A-     A   MJAWT: TF011898
Name of the Project: Dioxins Reduction from the Pulp and Paper Industry Project Grant No.: TFO 11898
Granted by GEF
Aj4*4_7:             t 4          K                     ~FP *-L t:                    TP.f5t
Entity Name: International Environmental Cooperation Center              Currency Unit: RMB Yuan
Beginning       Ending                        Beginning       Ending
Application of Fund       Balance        Balance     Sources of Fund     Balance       Balance
360,112,944.04  368,948,724.78  Cofin        286,860,733.02  287,211,078.21
Total Project Expenditures                               Co-funding
Received
Fixed Assets Transferred   249,040,124.00  249,040,124.00  it             83,407,101.24  97,213,278.16
Total Grant
Construction Expenditures to        0.00           0.00                    2,605,597.69  -1,859,199.07
besosedToaPybl
3       fi                          0.00           0.00  "it                      0.00           0.00
Investments Transferred-out                              Other Payable
4.31I                      111,072,820.04  119,908,600.78  He fund                0.00           0.00
Construction in Progress                                 Other Fund
ZN                                  0.00           0.00  Retained                 0.00           0.00
Equipment                                                Earnings
Including: Equipment Losses         0.00           0.00
in Suspense
12,760,487.91  13,616,432.52
Total Cash and Bank
1WT4 V                      12,760,487.91  13,616,432.52
Cash in Bank.
Inc   :  S12,760,487.91                   13,616,432.52
Including: Special Account
2. A                                0.00           0.00
Cash on Hand
RU N i~l&      fl 0.00                          0.00
Total Prepaid and Receivable0.000
Totl A c t  o372,873,431.95 382,565,157.30        Total Sources of 372,873,431.95 382,565,157.30
Fund
5


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iv. Special Account Statement
0 .M P p VIA
SPECIAL ACCOUNT STATEMENT
*MAY 2018 * 12 A 31 H
(For the Period Ended December 31, 2018)
I 1  W M11AAff k             ff P ip;ff ;t 41': r  W K 4: ikff
L 3r  L- Ak;R,*,;FT
Project Name: Dioxins Reduction from the Pulp and Paper Depository  Bank:  China
Industry Project Granted by GEF       Minsheng Banking Cooperation,
Beijing Finance Street Branch
TFO 1189 8                               qK -V:  697933122
GrantNo.: TF011898                                  Account No: 697933122
%441k:                                              R i  41k;   A 't
Prepared by: International Environmental Cooperation Center  Currency Unit: USD
A R                                     it 19
Items                                  kmount
A%ft:                        Part A-Account Activity for the period
MVI+g  (2018/l/1) Beginning balance (Jan. 1,2018)                1,952,876.85
IN Add,
1,399,724.72
Total amount deposited by World Bank
Total interest eamed this period if deposited in Special                825.64
Account
9 911 Deduct:
Total amount withdrawn                                1,369,449.98
Total interest withdrawed this period of the Special Account
*nqiR 2 tlT.901 Total amount recovered by World Bank
gi(-2018/12/3 1) Ending balance (Dec,31, 2018)               1,983,977.23
B 1.3 . A ffl KPi)JVW Part B-Account Reconciliation
I , a Pr Q V 1W zk 37 4VA 9                                       2, 00 00 00, 00 00 00. 00 00
Amount advanced by World Bank
iA  l Deduct:
2.t:rrVJTHq!k, F),                                                           -
Total amount recovered by World Bank
3 . * M M q   --i   ) I H )  K P -9 & 4 V ', * rV,
Outstanding amount advanced to the Special Account at              2,000,000.00
Nov. 10, 2017
(2018/12/31)                                    1,983,977.23
End balance of Special Account (Dec.31, 2018
INN Add:
16,879.43
Amount withdrawn but yet claimed
A/9 Deduct:
856,66
Interest earned (if included in Special Account)
7. * M Aq 3K  WP -9  k 4 IK 4 W)N                                 2,000,000.00
Total advance to Special-Account accounted (Dec.31., 2018)
10


（五）财务报表附注
财务报表附注
1．项目基本情况
1.1项目全称为全球环境基金中国制浆造纸行业二嗒英减排项
目。项目赠款协议于2012年5月25日由国际复兴开发银行〔简称世
界银行）与中华人民共和国财政部（简称财政部）共同签署。根据财
政部与原环境保护部签籲的转赠协议，生态环境部对外合作与交流中
』心负责赠款的佼用、管理和监督。该项目目标为选择典型非木浆制浆
造纸企业开展二嗯英减排“最佳可行技术／最佳环境实践，,(BAT尼EP)
示范改造，支持中国制定减排的镼期行动计划，推动全行业应用“最
佳可行技术／最佳环境实践”。项目计划资金总额为8 100万美元（折
合人民币51 111万元），其中：赠款资金1 500万美元，承诺配套资
金6 600万粎元。四家典型非木浆企业为南宁糖业股份有限公司、四
川省金福纸品有限责任公司、湖南林源纸业有限公司和驻马店市白云
纸业有限公司，扼诺配套资金分别为2 042.5万美元、1 203.5万美元、
809.5万粎元和812,8万粎元。2015年11月，南宁糖业股份有限公司
退出该项目，项目重组后配套资金总额为5268.3万美元。财政部和
世界银行于2018年10月9日签署了赠款修订协议，将项目关账日由
原计划2018年6月30日延长至2019年6月30日。
1.2赠款协议修订后的项目内容主要包括：(I）在典型非木浆企
业开展BAT/BEP的技术改造和示范，同时选择其他典型企业进行
BAT侣EP技术推幼；(2）簖制行业二嗯英减排的行动计划并推动实
施，促进全行业的二嗯英减排；(3）对示范企业的基线和改造后的
情况进行独立核查，从而对二嗯英减排、污染物排放达标情况以及实
现的节水进行量化评估，并将在整个执行期对项目进行监督与评估活
动；(4）生态环境部对外合作与交流中心对项目进行具体管理并开
展相关技术支持活动。
2．会计核算原则
2.1本项目财务报表按照财政部《世界银行贷款项目会计核算办
法》（财际字〔2000〕13号）的要求编制。


2.2本项目采用借贷记账法进行核算。记账本位币为人民币。
2.3会计年度采用公历年制，即从公历每年1月1日起至12月
31日止。本期报表会计期间为2018年1月1日至12月31日。
2.4本项目财务报表采用的汇率说明：项目进度表（一）中项目
总计划额折算汇率采用世行项目评估文件中选择的汇率1美元＝人民
币6.31元；其余报表折算采用的期初汇率为2017年12月31日汇率，
即1粎元＝人民币6.5342元，期末汇率为2018年12月28日汇率，
即1粎元＝人民币6.8632元。
3．报表编制范围
四川省金福纸品有限责任公司、湖南林源纸业有限公司、驻马店
市白云纸业有限公司和南宁糖业股份有限公司蒲庙造纸厂四家示范
企业、生态环境部对外合作与交流中心的项目财务报表及专用账户报
表。生态环境部对外合作与交流中心负责对本级、各示范企业及专用
账户报表数据进行汇总，各报表单位对本单位提供报表的真实性、完
整性负责。
4．专用账户情况说明
生态环境部对外合作与交流中心专用账户开立于2016年7月13
日，用于核算全球环境基金世行执行的赠款项目。经世行批准，2017
年11月，本项目专用账户由财政部国际财金合作司转移至生态环境
部对外合作与交流中心管理，该专用账户开立于2016年7月13日，
开户行为中国民生银行北京金融街支行，美元账号为697933 122。本
期期初余额为19犯876.85粎元，本期世行回补总额为1 399 724.72
粎元，其中包括首存款（即周转金）2000000.00美元，本期产生利
息为825.64粎元，本期支付总额为1 369 449.98美元，截至2018年
12月31日，专用账户期末余额为1983977.23美元。
5．报表科目说明
5.1项目支出
5.1,1截至2018年12月31日，本期项目支出合计人民币
8835780.74元，累计项目支出人民币368948724夕8元。其中：示
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范企业二德英减排“最佳可行技术／最佳环境实践”投资改造本期项目
支出人民币5055360.13元，累计项目支出344963161.70元；编制
并推动实施行业二德英减排行动计划本期项目支出人民币
2923401.00元，累计项目支出14215593.07元；监督与评估本期项
目支出人民币536 200.00元，累计项目支出5 952 824.10元；项目管
理本期项目支出人民币320 819.61元，累计项目支出3 817 145.91元。
5.1.2截至2018年12月31日，累计项目支出中包含交付使用资
产人民币249 040124.00元，其中南宁糖业股份有限公司蒲庙造纸厂
累计交付佼用资产人民币144 484 71 3 .17元，为改造完成交付的二氧
化氯设备、漂白系统，四川省金福纸品有限责任公司累计交付使用资
产人民币104 555 410.83元。
5.2货币资金
截至2018年12月31日，项目货币资金余额人民币13 616 432,52
元，其中：专用账户存款余额 1 983 977.23美元，折合人民币
13 616 432.52元。
5.3拨入赠款
截至2015年12月31日，项目累计收到赠款14 164 424.49美元，
折合人民币97 2 13 275.16元。
5.4拨入配套资金
截至2018年12月31日，配套资金本期到位人民350 345.19元，
累计到位人民币287 21 1 078.21元。其中：生态环境部对外合作与交
流中心配套资金本期到位人民币0.00元，累计到位人民币
1 508 303,07元；四川金福纸品有限责任公司配套资金本期到位人民
币0.00元，累计到位金额人民币84 240 753.60元；湖南林源纸品有
限公司配套资金本期到位人民币60691.13元，累计到位人民币
40 103 788.97元；驻马店市白云纸业有限公司配套资金本期到位人民
币289 654.06元，累计到位人民币16 873 519.40元；南宁糖业股份
有限公司蒲庙造纸厂配套资金本期到位人民币0.00元，累计到位人
民币144 484 713.17元。
l3


5.5应付款合计期末余额为人民币一1 859 199.07元，包括：生态
环境部对外合作与交流中心垫付未回补资金人民币18 213.13元；四
川金福纸品有限责任公司应付款人民币2423238.38元；专用账户利
息人民币5879.43元，汇兑收益人民币4306530.01元。
6．其他情况说明
6.1本报表配套资金仅反映现金配套部分。
6.2项目进度表〔一）全球环境基金赠款本期发生额人民币
13806176.92元，赠款协定执行情况表中本期提款数人民币
9606590.70元，差异人民币4199586.22元为汇率变动产生的差异。
l4


v. Notes to the Financial Statements
Notes to the Financial Statements
1. Introduction of the Project
1.1 The Global Environment Facility Grant Agreement of Dioxins
Reduction from the Pulp and Paper Industry in China (therefore abbr. GA)
was signed by the International Bank for Reconstruction and
Development ( therefore abbr. VVB ) with the Ministry of Finance,
People's Republic of China (therefore abbr. MOF) on May 25, 2012. An
implementation agreement was signed between MOF and the former
Ministry of Environmental Protection to designate International
Environmental Cooperation Center (therefore abbr. IECO) to be
responsible for the use, management and supervision of the grant.The
objectives of the project are to demonstrate the result of BAT/BEP
adoption in four selected non-wood pulp mills; and to support China to
develop its long-term action plan to guide the promotion of a sector-wide
BAT/BEP adoption. The total cost of the project is USD 81 000 000.00
(approximately RMB 511 110 000.00 yuan) with USD 15 000 000.00
grant from GEF and USD 66 000 000.00 of co-financing. Four selected
enterprises are Nanning Sugar Industry Co., Ltd ;Sichuan Jinfu Paper
Industry Co., Ltd of Leshan City, Hunan Linyuan Paper Co., Ltd and
Henan Zhumadian Baiyun Paper Co., Ltd, the co-financing fund is USD
20 425 000.00, USD12 035 000.00, USD8 095 000.00 and USD
8 128 000.00 respectively, Nanning Sugar Industry Co., Ltd has
withdrawn from the project in Nov 2017 and the revised co-financing
fund is USD52 683 000.00 after project reconstruction. Amendment to
Grant Agreement between WB and MOF has been signed on October 9,
2018. The closing date of the project was extended from June 30, 2018 to
June 30, 2019.
1.2 There are four components after project reconstruction: (1) BAT/BEP
investment in participation mills and promotion of BAT/BEP investment
in selected mills; (2) National action plan for sector-wide replication; (3)
monitoring and evaluation: this component will carry out independent
verification of baseline and sample results at the four mills to quantify
reduction of dioxin releases as well as water quality parameters and water
savings achieved. And project monitoring and evaluation activities will be
carried out during the course of project implementation; (4) project
management: this component will support provision of technical
assistance to improve capacity of IECO to manage the implementation of
the project.
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2. Accounting Policies
2.1 The financial statements was prepared in accordance with the
Accounting Principle of the World Bank Loan Project (CaiJiZi [2000]13)
from the Ministry of Finance.
2.2 The debit/credit double entry bookkeeping system is applied for
bookkeeping purpose. Currency unit for accounting is RMB.
2.3 Accounting period is the Gregorian calendar, which is from January 1
to December 31. Financial Statement for the current accounting period is
from January 1, 2018 to December 31, 2018.
2.4 The exchange rate defined in the Project Appraisal Document (PAD)
(USD 1=RMB 6.31 yuan) is used as the reporting exchange rate in the
Summary of Sources and Uses of Funds when calculating the total project
cost (life of PAD), the beginning exchange rate used is the exchange rate
as of December 31, 2017 (USD l=RMB 6.5342 yuan) and the ending
exchange rate used is the exchange rate as of December 28, 2018 (USD
l=RMB 6.8632 yuan) in other financial statements if mentioned.
3. Scope of the Consolidated Statements
Consolidation scope of the financial statement covers the financial
statements of IECO and project implementation enterprises, namely,
Sichuan Jinfu Paper Industry Co., Ltd of Leshan City, Henan Zhumadian
Baiyun Paper Co., Ltd, Hunan Linyuan Paper Co., Ltd, Nanning Sugar
Industry Co., Ltd and special account statements. IECO is responsible for
preparing its own financial statements and summarizing financial
statements of four project implementation enterprises and special account
statements. Each entity has the responsibility for the authenticity and
integrity of its own financial statements.
4. Notes to the Application of Special Account
This special account was set up in July 13 ,2016 by IECO and it is used to
record the income and expenditures of WB project granted by GEF. As
agreed by WB, the special account was transferred from the the
International Department of Economic and Finance Cooperation of MOF
to IECO since November 11, 2017, thus, the account was set up in
Beijing Finance Street Branch, Minsheng Bank of China by IECO on July
13, 2016. The account number is 697933122 and currency unit is USD.
The first withdrawal (namely turn-over fund) is USD 2 000 000.00 is
deposited into the account in 2017.The opening balance of the Special
Account is USD 1 952 876.85, deposit for this period is
USD1 399 724.72, the net interest income is USD 825.64,withdrawal for
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this period is USD 1 369 449.98 and the ending balance is USD
1 983 977.23 as of December 31,2018.
5. Notes to the Financial Statement Accounts
5.1 Project Expenditure
5.1.1 As of December 31,2018, the current project expenditure is
RMB    8 835 780.74yuan, and the accumulated project expenditure is
RMB    368 948 724.78 yuan. The details are as following: the current
payout for BAT/BEP investment in participating mills is RMB5 055
360.13 yuan, and the accumulated payout is RMB 344 963 161.70yuan;
the current payout for national action plan for sector-wide replication is
RMB 2 923 401.00yuan, and the accumulated payout is
RMB 14 215 593.07 yuan; the current payout for monitoring and
evaluation is RMB 536 200.00 yuan,and the accumulated payout is RIB
5 952 824.10 yuan; the current payout for project management is RMB
320 819.61 yuan, and the accumulated payout is RMB 3 817 145.91yuan.
5.1.2 The amount of the transferred fixed assets is RMB 249 040 124.00
yuan. The details are as following: the amount of the transferred fixed
assets of Nanning Sugar Industry Co., Ltd is RMB 144 484 713.17 yuan,
including the Chlorine dioxide equipment and Bleaching system etc. as of
December 31,2018; the amount of the transferred fixed assets of Sichuan
Jinfu Paper Industry Co., Ltd of Leshan City is RMB 104 555 410.83
yuan.
5.2 Cash and Bank
The balance of Cash and Bank account is RMB 13 616 432.52 yuan as of
December 31,2018, which includes the ending balance of Special
Account is USD1 983 977.23, approximately RMB 13 616 432.52 yuan.
5.3 Grant
As of December 31,2018, the accumulated grant received is USD
14 164 424.49, approximately RMB 97 213 278.16 yuan.
5.4 Co-financing fund
The current co-financing fund received is RMB 350 345.19 yuan, and the
accumulated co-financing fund received is RMB 287 211 078.21 yuan as
of December 31, 2018. The details are as following: the current
co-financing fund of IECO is RMB 0.00 yuan, and the accumulated
co-financing fund is RMB 1 508 303.07 yuan; the current co-financing
fund of Sichuan Jinfu Paper Industry Co., Ltd of Leshan City is RMB
0.00 yuan, and the accumulated co-financing fund is RMB 84 240 753.60
yuan; the current co-financing fund of Hunan Linyuan Paper Co., Ltd is
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RMB 60 691.13 yuan, and the accumulated co-financing fund is RMB
40 103 788.97 yuan; the current co-financing fund of Henan Zhumadian
Baiyun Paper Co., Ltd is RMB 289 654.06 yuan, and the accumulated
co-financing fund is RMB 16 873 519.40 yuan; the current co-financing
fund of Nanning Sugar Industry Co., Ltd is RMB 0.00 yuan, and the
accumulated co-financing fund is RMB 144 484 713.17 yuan.
5.5 The ending balance of Payables is RMB -1 859 199.07yuan, which
includes that the prepaid cost incurred by IECO RMB is 18 213.13 yuan,
the payables of Sichuan Jinfu Paper Industry Co., Ltd of Leshan City is
RMB 2 423 238.38 yuan, the interest of the special account is RMB
5 879.43 yuan and the exchange rate gain is RMB4 306 530.01 yuan.
6. Other Explanation for the Financial Statements
6.1The co-financing fund in this financial statement reflects the cash
co-financing fund only.
6.2 Total source of fund for current period in the Summary of Sources
and Uses of Funds by Project Component is RMB13 806 176.92yuan and
current-period withdraws in the Statement of Implementation of Grant
Agreement is RMB9 606 590.70yuan, the difference between the two is
due to the exchange gain or loss which is RMB4 199 586.22yuan.
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