Ministry of Commerce: China to Resume Tax Exemption Policy on Copper and Aluminu

To positively cope with the influence of financial crisis and maintain a stable growth on foreign trade , Ministry of Commerce and General Administration of Customs jointly issued the announcement to adjust the Catalogue of Restricted and Prohibited Commodities in Processing Trade.

It is said that, from February 1, China is to resume import tax exemption policy on copper, nickel, cobalt ore and its refined ore products and export tax exemption policy on refined copper, unwrought nickel alloys, aluminum bars and rod of non-alloyed.

According to the announcement, 1,730 commodities under ten-digit HS codes related to textile products, plastic products, wood products, hardware products etc. will be eliminated from the restricted category, which account for 77% of the total number of restricted products in processing trade and with a worth of USD 30 billion.

27 kinds of commodities under ten-digit HS code related to copper, nickel and aluminum products etc. are to be eliminated from prohibited category, which involves an export value of USD 1.5 billion and occupies 30% of the total value of prohibited commodities in processing trade.