The rumor that the export tax rebate will be adjusted is finally confirmed. The Ministry of Finance issued a notice on the 22nd that the Ministry of Finance and the State Administration of Taxation jointly issued a notice on the 22nd. With the approval of the State Council, from July 15, 2010, China will cancel the export of six major categories of steel and non-ferrous metal processed materials. Tax refund. This move is another “iron fist†regulation and control measure introduced by the government since the State Council deployed energy conservation and emission reduction work at the beginning of last month.
According to industry analysts, this is the first reverse adjustment after China launched the export tax rebate policy in the economic crisis, highlighting the intention of industrial restructuring. However, because the current foreign trade environment is unstable, changes in export policies also mean that enterprises will face challenges in the later period.
According to the notice from the two departments, the products of the “two high and one capital†products were cancelled. The products that canceled the export tax rebate involved some steel products, non-ferrous metal processing materials, silver powder, alcohol, corn starch, pesticides, medicines, chemical products, plastics and products. A total of 406 tariff codes for rubber and products, glass and products.
"It can be seen from the list of canceled export tax rebates listed in the two departments that the regulation is mainly aimed at some high-pollution and high-energy-consuming products." An authoritative person from the Ministry of Industry and Information Technology said in an interview with the Economic Information Daily. According to the list listed by the two departments, the regulation is unprecedented, and many of the commodities such as clopidogrel and dichlorophenol have enjoyed the export tax rebate rate of 13% or 17%. "From the previous period, the export tax rebate rate of some commodities was frequently raised, and the export tax rebate for some commodities was cancelled. Such a large-scale policy adjustment further highlights the intention of the decision-making layer to accelerate the adjustment of industrial structure." The above-mentioned person said that due to the financial crisis, 2008-present The state has adjusted the export policies and tax rates of related products several times in order to stabilize the market. However, from the current situation, the domestic economy has emerged from the shadow of the economic crisis, and enterprises have returned to pre-crisis levels. Therefore, some original restrictions The measures will be gradually restored, which is of positive significance for eliminating backward production capacity and saving energy and reducing emissions.
The reporter learned that the Ministry of Finance had adjusted the tariffs on some products last year, that is, from July 1, 2009, canceled the temporary tariffs on the export of wheat, rice, soybeans and other food products, as well as industrial products such as sulfuric acid and steel wire, and lowered the fine talc. Provisional tariffs on the export of powder, small and medium-sized steel, partially fluorinated products, and some non-ferrous metals such as tungsten, molybdenum and indium and their intermediate products. At the same time, in order to stabilize agricultural production, special export tariffs for products such as yellow phosphorus, phosphate rock, synthetic ammonia, phosphoric acid, ammonium chloride, heavy superphosphate, and binary compound fertilizer are eliminated.
The steel tax rebate adjustment is “the first to bear the bruntâ€, and steel companies are worried about the difficulty. In the various products that restrict exports, the steel tax rebate is called “two high and one capitalâ€, and the tax rebate adjustment is naturally “first to bear the bruntâ€.
As can be seen from the published list of rules, a total of 45 varieties including cold and hot rolled sheet, section steel, angle steel, alloy steel, etc. are eliminated from the export tax rebate.
"As can be seen from the adjusted catalogue, these steels are basically low value-added and highly polluting products. Some high value-added steels are not listed here. This shows that one of the key points of China's steel industry policy adjustment is to Steel processing exports have shifted to meet domestic demand.†Xu Xiangchun, director of our steel network consulting, said in an interview with the Economic Information Daily.
It is understood that China's plate exports still enjoy 9%-13% of export tax rebates during the economic crisis. In the long products, alloy steel and stainless steel long products enjoy a 9% tax rebate, and railway materials and large-sized steels also implement a 9% tax rebate.
For the Lao Wang who is doing steel trade in Qingdao, it is not surprising to hear the news of the steel tax rebate adjustment. Because as early as a month ago, the market has begun to rumor this news. Lao Wang told reporters that their company had already rushed to export a batch of steel last month. In fact, due to seasonal factors and international market expectations, the current export orders have begun to decrease, about 20% - 30%. In the next step, the company's main business will also turn to the domestic.
“The fierce competition is inevitable.†Pharaoh said frankly, not only that, but exports can transfer some steel supplies before, but now this part of the demand must also all turn to the domestic market, which will inevitably curb domestic steel prices, which is just out of the shadow of the financial crisis. For domestic steel companies, it is likely to lead to a loss of balance between supply and demand.
The head of a large-scale non-ferrous enterprise in China also admitted in an interview with the Economic Information Daily that because the current foreign trade environment is unstable, the export situation is not good for Chinese companies, and enterprises are likely to be in trouble because of severe policy adjustments.
Xu Xiangchun told reporters that from the current situation analysis, the change in export tax rebate policy will reduce the export of domestic products, which will lead to changes in domestic and international market supply. On the one hand, it will be possible to stimulate international prices, on the other hand, in the case of increased supply. Under the domestic market price may be lower.
"In the case of blocked exports, how to control production capacity and grasp the rhythm of domestic market demand may be the biggest problem that Chinese companies need to consider." Xu Xiangchun said.
According to industry analysts, this is the first reverse adjustment after China launched the export tax rebate policy in the economic crisis, highlighting the intention of industrial restructuring. However, because the current foreign trade environment is unstable, changes in export policies also mean that enterprises will face challenges in the later period.
According to the notice from the two departments, the products of the “two high and one capital†products were cancelled. The products that canceled the export tax rebate involved some steel products, non-ferrous metal processing materials, silver powder, alcohol, corn starch, pesticides, medicines, chemical products, plastics and products. A total of 406 tariff codes for rubber and products, glass and products.
"It can be seen from the list of canceled export tax rebates listed in the two departments that the regulation is mainly aimed at some high-pollution and high-energy-consuming products." An authoritative person from the Ministry of Industry and Information Technology said in an interview with the Economic Information Daily. According to the list listed by the two departments, the regulation is unprecedented, and many of the commodities such as clopidogrel and dichlorophenol have enjoyed the export tax rebate rate of 13% or 17%. "From the previous period, the export tax rebate rate of some commodities was frequently raised, and the export tax rebate for some commodities was cancelled. Such a large-scale policy adjustment further highlights the intention of the decision-making layer to accelerate the adjustment of industrial structure." The above-mentioned person said that due to the financial crisis, 2008-present The state has adjusted the export policies and tax rates of related products several times in order to stabilize the market. However, from the current situation, the domestic economy has emerged from the shadow of the economic crisis, and enterprises have returned to pre-crisis levels. Therefore, some original restrictions The measures will be gradually restored, which is of positive significance for eliminating backward production capacity and saving energy and reducing emissions.
The reporter learned that the Ministry of Finance had adjusted the tariffs on some products last year, that is, from July 1, 2009, canceled the temporary tariffs on the export of wheat, rice, soybeans and other food products, as well as industrial products such as sulfuric acid and steel wire, and lowered the fine talc. Provisional tariffs on the export of powder, small and medium-sized steel, partially fluorinated products, and some non-ferrous metals such as tungsten, molybdenum and indium and their intermediate products. At the same time, in order to stabilize agricultural production, special export tariffs for products such as yellow phosphorus, phosphate rock, synthetic ammonia, phosphoric acid, ammonium chloride, heavy superphosphate, and binary compound fertilizer are eliminated.
The steel tax rebate adjustment is “the first to bear the bruntâ€, and steel companies are worried about the difficulty. In the various products that restrict exports, the steel tax rebate is called “two high and one capitalâ€, and the tax rebate adjustment is naturally “first to bear the bruntâ€.
As can be seen from the published list of rules, a total of 45 varieties including cold and hot rolled sheet, section steel, angle steel, alloy steel, etc. are eliminated from the export tax rebate.
"As can be seen from the adjusted catalogue, these steels are basically low value-added and highly polluting products. Some high value-added steels are not listed here. This shows that one of the key points of China's steel industry policy adjustment is to Steel processing exports have shifted to meet domestic demand.†Xu Xiangchun, director of our steel network consulting, said in an interview with the Economic Information Daily.
It is understood that China's plate exports still enjoy 9%-13% of export tax rebates during the economic crisis. In the long products, alloy steel and stainless steel long products enjoy a 9% tax rebate, and railway materials and large-sized steels also implement a 9% tax rebate.
For the Lao Wang who is doing steel trade in Qingdao, it is not surprising to hear the news of the steel tax rebate adjustment. Because as early as a month ago, the market has begun to rumor this news. Lao Wang told reporters that their company had already rushed to export a batch of steel last month. In fact, due to seasonal factors and international market expectations, the current export orders have begun to decrease, about 20% - 30%. In the next step, the company's main business will also turn to the domestic.
“The fierce competition is inevitable.†Pharaoh said frankly, not only that, but exports can transfer some steel supplies before, but now this part of the demand must also all turn to the domestic market, which will inevitably curb domestic steel prices, which is just out of the shadow of the financial crisis. For domestic steel companies, it is likely to lead to a loss of balance between supply and demand.
The head of a large-scale non-ferrous enterprise in China also admitted in an interview with the Economic Information Daily that because the current foreign trade environment is unstable, the export situation is not good for Chinese companies, and enterprises are likely to be in trouble because of severe policy adjustments.
Xu Xiangchun told reporters that from the current situation analysis, the change in export tax rebate policy will reduce the export of domestic products, which will lead to changes in domestic and international market supply. On the one hand, it will be possible to stimulate international prices, on the other hand, in the case of increased supply. Under the domestic market price may be lower.
"In the case of blocked exports, how to control production capacity and grasp the rhythm of domestic market demand may be the biggest problem that Chinese companies need to consider." Xu Xiangchun said.
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