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China to reduce tax refund for high-polluting goods

www.chinanews.cn 2007-04-27 17:01:40

Chinanews, Beijing, Apr. 27 �C China is trying to make some policy
changes in order to control the export of high energy-consuming,
high-polluting resource products. In doing so, China will gradually
reduce the tax rebate level for primary processed products, said Jia
Yinsong, deputy director of the State Development and Reform Commission,
on Thursday.
In recent years, Chinese government has taken a series of measures to
control the export of high energy-consuming goods. As a part of these
efforts, the government has reduced the tax refund for exported rolled
steel. However, during the first quarter of this year, the export amount
of high energy-consuming goods soared, which aroused the government's
attention.
During the first three months of the year, China exported 14 million tons
of rolled steel and 1.78 million tons of steel billets, up 120% and
98.1%, respectively, compared with the same period last year. In
addition, the export of coke and iron alloy also increased by 20% and
70%, respectively.
In regard to the widespread saying that China will reduce tax rebate for
textiles, Jia didn��t respond to it directly. However, he said that
Chinese government would take effective measures to trying to drag down
the huge trade surplus.
Although during the first three months of the year, trade surplus shrank
to some extent, still trade surplus stood at 46.44 billion US dollars. So
it might take some time before China can finally reduce huge trade
surplus dramatically.

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