China adjusts export rebate on metals and steel products
2006-09-14 22:28:04 【Print】
BEIJING (Asian Metal) 14 Sep 06 - Later today, China government announces to adjust current export rebate policies on metals and steel products, effective on 15th Sep.
The export rebate rate will be completely removed for the following products: all nonmetallic minerals under Chapter 25 except salt and cement; coal and coke; silicon; arsenic and ceramics made by non-ferrous metals and their scrap.
Some non-ferrous metals' export rebate rate will reduce from current 13% to 5%, 8% and 11% accordingly.
Steel products' export rebate rate under 142 tariff numbers will be reduced from current 11% to 8%.
Tolling trade will be restricted for commodities whose export rebates were previouly cancelled. Moreover, extra import tax will be imposed on these commodities.
Commodities that were contracted before 14th Sep., registered in relevant governmental department before 30th Sep. and applied to customs before 14th Dec., will still enjoy current export rebate rate. Otherwise, new export rebate rate will be applied.
Note: Asian Metal will give more details for the new policy tomorrow. Watching closely!
