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Jia Yinsong, deputy director of the economic operation Bureau of the national development and Reform Commission, said here today that China will further study relevant policies and measures to control the export of high energy consumption, high pollution and resource products, gradually reduce the export tax rate and further reduce the export tax rebate rate of primary processing products.

In recent years, the Chinese government has been deliberately controlling the excessive export of high energy consuming products, and has repeatedly lowered the export tax rebate rate of steel and other products. However, in the first quarter of this year, the export of high energy consuming products still increased significantly, which is enough to arouse official vigilance.

In the first three months, China exported more than 14 million tons of steel and 1.78 million tons of billets, up 1.2 times and 98.1 percent year-on-year. In addition, coke and ferroalloy exports are likely to increase by 20% and 70% respectively. Although the Chinese government has made clear the direction of the tax rate adjustment today, it has not released any pictures of the products to reduce the export tax rate, nor has it disclosed the specific time when the reduction plan will come out.

Although the national development and Reform Commission did not give a positive answer to the recent market rumors about the reduction of textile tax rebate, it also said that the Chinese government should take effective measures to reduce the foreign trade surplus. Although China's foreign trade surplus shrank in March, it still reached US $46.44 billion in the first quarter. It is still not an overnight achievement to narrow the trade surplus substantially.

This article reprinted from: China mortar net