China's Export Drawback Increased in First 7 Months 2010
[2010-08-23 09:23:50]
As learned from the website of the State Administration of Taxation of P. R. China, from January till July 2010, China actually processed the export drawback with a value of CNY 295.336 billion, up 28.2% year-on-year.
Therein, the export drawback actually transacted in July totaled CNY 48.934 billion, up 46.4% year-on-year.
Affected by the adjustment of export drawback policy, China's export of steels presented a month-on-month decline in July 2010 following its month-on-month growth for 4 months.
According to the party concerned, this is the early release of the drawback policy effects. Iron and steel industry is a typical industry of high consumption, high pollution, and resource-based. The cancellation of drawback for restraining export can curb the excess capacity in China, promote the implementation of energy saving and emission reduction, and also actively reduce trade frictions.
Source: ETCN
Keywords:China's Export Drawback
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