Top Biz News

    Gov't plans export tax rebate slash

    (China Daily)
    Updated: 2006-07-24 08:32
    Large Medium Small

    China will reduce tax rebates on exports of resource-intensive and environmentally-harmful products, officials say.

    An as-yet unreleased policy is scheduled to take effect around September or October, despite strong protests from domestic companies and traders, according to Caijing magazine.

    The move reflects the government's drive to shift the nation away from low-value-added exports.

    "The government wants to see a trade balance. We're not deliberately seeking rising surpluses," said Ministry of Commerce spokesman Chong Quan.

    Introduced in 1985, tax rebates for exports have made Chinese products more competitive on the international market.

    But it is now expected rebates will be cut by an average of two per cent for products such as textiles, iron and steel. Only high-tech industries will avoid the cuts? their rebate is being increased.

    "Export rebates for high energy-consuming, polluting and resource-intensive products should be stopped," said Fu Ziying, assistant to the Minister of Commerce.

    Booming exports have contributed significantly to the Chinese economic miracle.

    In recent years, the cart of the Chinese economy has been hauled by the two "strong horses" of investment and foreign trade, while the "weak donkey" of domestic consumption totters in the middle.

    To sustain the steady development of the national economy, policymakers aim to spur domestic consumption by increasing consumer purchasing power.

    The strategy could help rein in over-investment, ease pressure on the renminbi and dissuade foreign anti-dumping lawsuits which result from the mammoth trade surplus, industry officials say.

    In the five years since China's accession to the WTO, the country's foreign trade has grown at an average annual rate of more than 30 per cent.

    In the first six months of 2006 foreign trade reached US$795.7 billion, up 23.4 per cent year on year. China chalked up a trade surplus of US$61.5 billion in the first half of this year, up 54.9 per cent year on year, according to statistics from the General Administration of Customs.

    On this basis, China's trade surplus is set to exceed US$100 billion this year, industry officials say.

    In the first half of this year, foreign-invested, export-oriented processing firms generated total foreign trade of US$465.3 billion, up 25.8 per cent on the same period last year, and accounting for 58.5 per cent of China's total.

    免费无码黄网站在线看| 中文字幕乱码中文乱码51精品| 无码AⅤ精品一区二区三区| 中文字幕亚洲免费无线观看日本| 日韩精品无码一区二区中文字幕 | 东京热人妻无码一区二区av| 无码人妻精品一区二区蜜桃AV| 十八禁无码免费网站| 无码国产精品一区二区免费式直播| 中文字幕人妻无码一夲道 | 中文无码精品一区二区三区| 无码人妻精品一区二区三区久久 | 亚洲成AV人在线播放无码 | 中文字幕手机在线观看| 日韩精品久久无码中文字幕| 国产精品99无码一区二区 | 99在线精品国自产拍中文字幕| 无码无套少妇毛多18PXXXX| 中文字幕无码久久精品青草| 熟妇人妻无码中文字幕| 亚洲精品无码av天堂| 国产乱妇无码大片在线观看| 日韩精品无码中文字幕一区二区 | 亚洲av无码专区国产乱码在线观看 | 中文字幕一区在线观看视频| 中文字幕av高清片| 特级小箩利无码毛片| 五月婷婷无码观看| 亚洲成av人片在线观看天堂无码| 国产精品无码无片在线观看| 无码精品A∨在线观看| 无码国产福利av私拍| 日日摸日日踫夜夜爽无码| 日日麻批免费40分钟无码| 狠狠躁狠狠躁东京热无码专区| 亚洲AV无码精品色午夜果冻不卡 | 一本无码中文字幕在线观| 一本加勒比hezyo无码专区| 中文有码vs无码人妻| 亚洲AV无码国产在丝袜线观看| 无码日韩精品一区二区免费 |