China Says Tax Tweaks Do Not Signal Export Shift-Shanghai Metals Market

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China Says Tax Tweaks Do Not Signal Export Shift

Data Analysis 10:30:28AM Jun 25, 2010 Source:SMM

BEIJING, June 25 -- The removal of some export tax rebates does not spell a change in China's overall trade policy and will not dent the momentum of the country's export growth, the Ministry of Commerce said on Thursday.

It said the tax changes, which affect just 1 percent of China's overall exports, were aimed at improving energy efficiency and reducing pollution.

The Ministry of Finance said on Tuesday that China would scrap value-added tax rebates on exports of some steel products as well as corn starch and ethanol from July 15.


 

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China Says Tax Tweaks Do Not Signal Export Shift

Data Analysis 10:30:28AM Jun 25, 2010 Source:SMM

BEIJING, June 25 -- The removal of some export tax rebates does not spell a change in China's overall trade policy and will not dent the momentum of the country's export growth, the Ministry of Commerce said on Thursday.

It said the tax changes, which affect just 1 percent of China's overall exports, were aimed at improving energy efficiency and reducing pollution.

The Ministry of Finance said on Tuesday that China would scrap value-added tax rebates on exports of some steel products as well as corn starch and ethanol from July 15.