Trusted Market and Commodities-Trade Intelligence

 

Think Real News

rss

Think Real press releases and industry coverage


China to increase export rebate rate from November 2018

On 8 October 2018, the Executive Meeting of the State Council was held. During this, the decision to complete the export rebate policy and accelerate the drawback was made. From 1 November 2018 specifically,

²  The respective export rebate rate of 15% and 13% on certain commodities will be both increased to 16%

²  The figure of 9% will be raised to 10% and even to 13% partially

²  The rate of 5% will be improved to 6% and even to 10% partially

In order to simplify the tax system, 1) the export rebate rating which is now comprised of 7 grades, will consist of only 5 levels; 2) the exporters who are good in credit and tax payment, will enjoy the simplified formalities and will spend shorter time on the refund of duty; 3) the paperless declaration of export tax rebate will be promoted nationwide, so as to improve the efficiency of examination and approval.

 

“The implementation of the export rebate policy is in line with the World Trade Organization rules,” stated the meeting, “The completion of the export rebate policy and the acceleration of the drawback will help deepen the supply side structural reform and reduce the cost for real economy, and at the same time, will help cope with the complicated international situation and maintain the steady trade growth.”

 

A market analyst said the following, “This policy is announced just as the Sino-US trade war is escalating and the export business is clouding. The significant increases in export rebate rate and the optimization of export policy and service will help the enterprises to ease the pressure and maintain the business growth. This year, 2018, has already seen many measures taken by China’s Ministry of Finance and Ministry of Commerce to stabilize the foreign trade business.”


Tags

CCPIA Jiangsu Flag Hunan Haili Registration Export and Import GM Glufosinate-ammonium MOA Xanthan gum wheat Jiangsu Lanfeng paraquat Arysta carbendazim Pests and Diseases Winall Hi-Tech Jiangsu Jiujiujiu soybean dicamba corn Rotam ADAMA SinoChem NEEQ Hubei Sanonda Hubei Xingfa Jiangsu Changqing Veyong Bio-Chemical Noposion QHT NATESC glyphsate Lianhe Chemical Environmental Protection Sino-Agri CNSA pesticide Project Dynamic Yongnong BioSciences Zhongnongfa Seed CAAS Zhongbao Lvnong Metaflumizone Zhejiang Wynca Policy Meihua Bio Henan Lotus Lianhetech wheat head blight Sugar Limin Chemical 百草枯 Fengle Seed Export Huapont-Nutrichem Weifang Rainbow DowDuPont Lier Chemical ICAMA Bayer Nutrichem CAS Shenghua Biok Crop and Seed Huaheng Biotechnology Zhejiang Xinnong Jingbo Dow AgroSciences MIIT Xiwang Food Jiangsu Kwin Chlorpyrifos MEP Sanonda Shandong Qiaochang Seed Sipcam VB2 Qingdao Hailir Jiangsu Huifeng BASF Hebei Veyong pyraclostrobin Shenzhen Noposion Price Anhui Guangxin Market Dynamic Fufeng Group mancozeb Longping High-tech Beijing Yoloo Star Lake Bioscience Sichuan Hebang Fuhua Tongda Imazamox Azoxystrobin ChemChina DuPont ABACHEM Registration Monitor FMC MARA Shandong Luba Project Monitor JPRI CAC Company Dynamic MOFCOM Insight Output Syngenta Bayer CropScience COFCO Biochemical Nippon Soda Baolingbao glyphosate 草甘膦 Nantong Jiangshan Jiangsu Yangnong RedSun environment protection pesticides Nanjing Redsun Longlive Biotechnology Fuhua Group Hailir IPO lysine