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China to Cancel Export Tax Rebates on Steel & Non-ferrous Metals within Five and a Half Years

 

 

China is going to cancel the export tax rebates for steel products and non-ferous metals gradually within five years and a half, an official with China’s State Information Center said on Jul 1.

Fan Jianping, director of the Economic Forecasting Department of the State Information Center, stated that China plans to cancel the export tax rebates on steel products and non-ferrous metals step by step, so as to limit the production capacity of these industries. Moreover, the government may also impose export tariffs on the relevant products. (US$1=RMB 6.7815; Source: Phoenix Satellite Television)
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