Govt mulling to lower export rebates of some products: report

Several departments, including the Ministry of Finance (MOF), the National Development and Reform Commission (NDRC) and the Ministry of Commerce (MOC), are studying to strengthen the limits of the exports of some resources products and to lower or cancel export rebates to some, according to an Economic Information Daily report Monday.

According to sources close to the matter, the categories of products to be altered are mainly products of high pollution, high energy consumption and resources products. The products may include rubber, non-ferrous metals, steel, construction materials and so on. Details are still unknown, as well as the adjustments on rebates.

The timetable for the formal announcement is also undisclosed to moment as it needs to balance the opinions of several departments and consider the situation on exports at the beginning of this year, said the source.

Analysts said that it is a long-term need for the country to cancel export rebates of high pollution and high energy consumption products since it reflects the countrys urgent need to save energy and adjust the structure.

Ma Zhong, director of the School of Environment & Natural Resources of Renmin University of China, said that the annulation of rebates can help to raise the costs to manufacturers of high pollution, high energy consumption and resources products, which will force them to boost technology advancement.

According to Ma, the new to-become-adjustment shows that the countrys tax system is turning to the direction of environmental friendliness and energy saving.

Bai Ming, researcher with the MOC, believes the current trade policy should keep stable, as export rebates help to make Chinese products competitive in the international market and the scrapping of it would cut the edge of domestic companies.

In addition, with remnants of last years financial crisis, and with pressure from the US for yuan appreciation, Chinas exports are certain to face discomfort this year, and therefor! e the co untry should be careful in adjusting export policies, according to Bai. Global Times


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