Consumption Tax to Deadly Strike China Lead-Acid Battery Industry-Shanghai Metals Market

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Consumption Tax to Deadly Strike China Lead-Acid Battery Industry

Industry News 04:58:06PM Sep 15, 2015 Source:SMM

SHANGHAI, Sept. 15 (SMM) – Consumption tax on lead-acid batteries will deadly hit Chinese lead-acid battery industry, Wang Lijun said, Secretary-General of the Lead-Acid Battery Branch of China Electrical Equipment Industrial Association.

China’s 4% consumption tax on lead-acid batteries will be introduced on January 1 next year.

Overall profits in domestic lead-acid battery industry are not more than 3% with most battery makers suffering losses after 10 straight years’ development. According to entry criteria in battery industry, battery makers have to inject huge amount of money into transformation of environmental protection facilities, clean production, new product development and upgrade of new craft, posing great pressures on battery makers, Wang added.

As such, once the 4% consumption tax comes into effect, lead-acid battery industry is likely to be deadly struck. 

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.


Key Words:  lead-acid battery  Consumption tax    
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Consumption Tax to Deadly Strike China Lead-Acid Battery Industry

Industry News 04:58:06PM Sep 15, 2015 Source:SMM

SHANGHAI, Sept. 15 (SMM) – Consumption tax on lead-acid batteries will deadly hit Chinese lead-acid battery industry, Wang Lijun said, Secretary-General of the Lead-Acid Battery Branch of China Electrical Equipment Industrial Association.

China’s 4% consumption tax on lead-acid batteries will be introduced on January 1 next year.

Overall profits in domestic lead-acid battery industry are not more than 3% with most battery makers suffering losses after 10 straight years’ development. According to entry criteria in battery industry, battery makers have to inject huge amount of money into transformation of environmental protection facilities, clean production, new product development and upgrade of new craft, posing great pressures on battery makers, Wang added.

As such, once the 4% consumption tax comes into effect, lead-acid battery industry is likely to be deadly struck. 

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.


Key Words:  lead-acid battery  Consumption tax