China to Support Tire Industry by Adjusting Tariffs
[2009-11-06 09:20:48]
China will soon launch preferential policies on imports of natural rubber and exports of tires, but the policy may not meet tire makers' expectations, according to a report by Xinhua-run China Securities Journal.
The journal citied Fan Rende, chairman of the China Rubber Industry Association, saying that related government departments have completed drafting an incentive program, which however, is far below in the industry's expectations.
Fan did not disclose the program's specific details. The association previously suggested the country eliminate its 20 percent import tariff rate on natural rubber, and raise its export tax rebate rate on tires from 9 percent to 15 percent.
China annually demands about 2.5 million tons of natural rubber, two million tons of which are imported. About 70 percent of imported natural rubber is for processing in China.
According to Fan, raising the export tax rebate rate on tires will do more good than harm, and that it is biased to say that the export tax rebate only means subsidizing foreign customers. The first priority is to support domestic enterprises and help them step out of troubles.
The journal citied Fan Rende, chairman of the China Rubber Industry Association, saying that related government departments have completed drafting an incentive program, which however, is far below in the industry's expectations.
Fan did not disclose the program's specific details. The association previously suggested the country eliminate its 20 percent import tariff rate on natural rubber, and raise its export tax rebate rate on tires from 9 percent to 15 percent.
China annually demands about 2.5 million tons of natural rubber, two million tons of which are imported. About 70 percent of imported natural rubber is for processing in China.
According to Fan, raising the export tax rebate rate on tires will do more good than harm, and that it is biased to say that the export tax rebate only means subsidizing foreign customers. The first priority is to support domestic enterprises and help them step out of troubles.
Source: chinamining.org
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