Chinese Authorities Urged to Abolish Rubber Import Tariff

[2012-03-20 16:06:41]


China Rubber Industry Association (CRIA) has urged government authorities to call off customs duties for imported rubber to protect domestic tyre makers, according to a report by Shanghai Securities News.

Now, Chinese rubber importers need to pay 20 per cent of import duty compared with 5 per cent of tyre customs duty among ASEAN member countries.

China's tyre producers might not effectively control production cost and face grave situation now with spot natural rubber prices surging to nearly 30,000 yuan (USD 4,749) per tonne from 26,000 to 27,000 yuan per tonne in early 2012.

Among 45 tyre makers in China, 11 players suffered losses in 2011 with value of losses growing 92.25 per cent year on year, according to statistics with CRIA.

Chinese tyre producers don't have a level playing field in international trade due to high customs duties and are forced to rely on the business of processing trade, according to CRIA.
Source: Lanka Business Online
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