China Cancels The Export Tax Rebate Of Some Products Such As Steel &Nbsp, And Helps To Save Energy And Reduce Emissions.

The Ministry of Finance and the State Administration of Taxation jointly issued the "notice on the abolition of the export tax rebates on some commodities", which was made clear from July 15th on the cancellation of the export tax rebates of 406 tax numbers, including some steel, nonferrous metal materials, and so on.

Experts pointed out that the tax department chose to cancel part of the export tax rebate at this time point, in order to better accomplish the task of "energy saving and emission reduction" in 11th Five-Year.

The move also shows that the government is determined to promote structural adjustment.

On the 19 day, the central bank announced that it would further promote the reform of the foreign exchange market. The 22 day finance and taxation department issued a large-scale policy of cancelling the export tax rebate rate, and decided to solve the problem of China's economic dependence on foreign trade resulting in an imbalance in the economic structure.

Sheng Guangzu, director general of customs, has pointed out that at present, China's foreign trade dependence is 45%, of which export dependence is 24.5%.

According to the notice, the export tax rebate products are mainly divided into six categories, including some steel products, some non-ferrous metal processing materials, silver powder, alcohol, corn starch, some pesticides, medicine, chemical products, and some plastics and products, rubber and products, glass and products.

With the list issued under the notice, the export tax rebate rate of the cancelled products is 5% to 17%.

This is the first time that the Ministry of Finance and taxation has changed the export tax rebate rate policy since the seventh export tax rebate rate was raised in June last year.

Related people pointed out that the abolition of the export tax rebate policy for some products is not enough.

This fiscal and taxation department has not only cancelled the export tax rebate rate of "two high one capital" products, but also expanded the scope to agricultural products, pharmaceuticals and chemical products.

Yao Jian, a spokesman for the Ministry of Commerce, said in an interview with our reporter that from this list, the adjustment is mainly restricted to the export of "two high and one capital" products, supporting the completion of the task of energy saving and emission reduction in 11th Five-Year.

According to Jie Zhenhua, deputy director of the NDRC, the energy consumption per unit GDP in the first four years of 11th Five-Year has been reduced by 14.38%, but it is far from the 20% target of "11th Five-Year" unit GDP energy conservation and consumption reduction.

Since the third quarter of last year, the capacity of high energy consumption and high polluting industries has been developing rapidly, especially in the first quarter of this year due to electricity,