The Chinese government will adjust export tax rebate as from July 1st.
The industries involved in this adjustment include: Propagation, Minerals, Chemicals and Industrial Products, Plastics and Rubber Products, Peltry and Leather Products, Wood products, Adhesives and steel and iron products.
It is reported that the export tax rebate for most of chemical industry product and other related industrial products may be cancelled, and the export tax rebate for the rests of these products will be reduced from 13% to 9% (or 5%).
Another rumor is that the export tax rebate for methanol, Acetic Acid and other Acetic Acid derivatives may be reduced from 13% to 5%.
Due to export tax adjustments, some export companies will defer their export plan until the formal documents and policy are confirmed.Paper Products Export Tax Rebate is being reduced by 8% from 13% to 5%.