The Policy of Import and Export Duty on Steel Will be Adjusted
[2009-02-20 09:51:49]
Under the circumstance of the steel export sliding sharply and import steel inbursting domestic market successively, Chinese government plans to carry out the scheme of adjusting the import and export on steel product and implement fair trade policy.
The financial crisis caused poor demand for overseas market. Since August 2008, the export of steel in China slided continuously, and the export in a single months reduced from 7.68 million tons to 2.95 million tons in November.
On November 12, 2008, the State council announced that since December 1, 2008, China will cancel the export duty on some steel to stimulate the export of steel.
For the import steel which can meet the demand of processing trade in production and quality, China will re-levy import duty and VAT on import linkage to create fair competition environment for domestic steel enterprises.
"I think re-levying import duty and VAT on import linkage mainly refers to the steel import to China for processing" said Xun Xiangchun, a consulting director of Beijing Steel Association. Half of the import steel in China are imported for processing, in which way no tariffs will be levied.
The financial crisis caused poor demand for overseas market. Since August 2008, the export of steel in China slided continuously, and the export in a single months reduced from 7.68 million tons to 2.95 million tons in November.
On November 12, 2008, the State council announced that since December 1, 2008, China will cancel the export duty on some steel to stimulate the export of steel.
For the import steel which can meet the demand of processing trade in production and quality, China will re-levy import duty and VAT on import linkage to create fair competition environment for domestic steel enterprises.
"I think re-levying import duty and VAT on import linkage mainly refers to the steel import to China for processing" said Xun Xiangchun, a consulting director of Beijing Steel Association. Half of the import steel in China are imported for processing, in which way no tariffs will be levied.
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