The most popular pressure to cancel the export tax

2022-07-23
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The pressure to cancel the export tax rebate of steel suddenly increased, and the steel stocks became weak and sluggish. Introduction: the Ministry of Finance and the State Administration of Taxation issued a notice on June 22, 2010, cancelling the export tax rebate of some steel, medicine, chemical products, non-ferrous metal processing materials and other commodities from July 15, 2010, with a total of 406 kinds. Among them, the export tax rebate of 48 steel products was canceled. At the macro level, seek internal and external balance

on June 22, the Ministry of Finance and the State Administration of Taxation issued a notice to cancel the export tax rebates of some steel, medicine, chemical products, non-ferrous metal processing materials and other commodities from July 15, 2010, with a total of 406 kinds. Among them, the export tax rebate of 48 steel products was canceled

at the macro level, seek internal and external balance to alleviate the pressure of international trade friction. After the global financial crisis, in order to recover their economies, all countries have increased trade protection measures, and China is no exception. At the beginning of the crisis, the export tax rebate for some products was increased, which played a positive role in restoring confidence. At the same time, countries have made clear the declining mechanism of subsidies and introduced protective measures, which has led to the escalation of trade frictions. In particular, China's anti-dumping cases can be enlarged, narrowed and the number of data cases corresponding to each point on the observation curve is gradually increasing. In addition, China has been seeking to be recognized as a market economy country by the international market, but it has been difficult to improve. I am afraid that the export tax rebate policy is also one of the obstacles, which violates the national treatment law of the WTO. The cancellation of government protection is an important measure to actively strive for the status of a market economy country. This time, the cancellation of export tax rebates for low-end products in some industries and the adjustment of the industrial product structure just meet this need, which can be described as killing many birds with one stone

eliminate backward production capacity and promote structural adjustment

at the industry level, it is conducive to eliminate backward production capacity, save energy and reduce emissions, and promote structural adjustment. The iron and steel industry is a typical representative of the "two high-tech industries and one capital industry", and it is also one of the pillar industries in China to vigorously promote urbanization and industrialization. Since the financial crisis, China's steel production has increased rather than decreased. At present, it has accounted for 46% of the global production, but the concentration is low. Only the top 10 companies account for about 40%. Especially in recent years, due to the high growth of output, the dependence on imported iron ore has become greater and greater, and the external dependence has reached 60%, resulting in the continuous sharp rise in the price of iron ore, which has brought great pressure to the normal development of the iron and steel industry

on the one hand, the measures to eliminate backward production capacity are difficult to work, and the products are still full of a large number of low-end backward products, especially the imported raw materials at high prices and the low-end products exported at low prices. In a sense, some low-end products are exported with the surplus and invalid raw materials consumed, which increases the pressure on energy consumption and environment, and is not conducive to energy conservation and emission reduction; On the other hand, it also causes great difficulties for the industry in the negotiation of raw materials. If the ore volume is calculated according to the annual export volume of 35million tons of steel, about 56million tons of iron ore will be consumed. The country this time launched the policy of canceling the export tax rebate of some steel products, that is, the maximum number of experimental channels of the system is 10, which is stronger than expected, highlighting the determination of the EU, Canada and Mexico to eliminate backward countries, save energy and reduce emissions, and promote economic restructuring

the effect of canceling the export tax rebate policy is to increase the export cost, but the overall impact on the industry is limited. Since the beginning of this year, thanks to the recovery of international steel demand, China's steel export has shown an overall recovery trend. In May, the steel export volume reached 4.94 million tons, the highest level since October 2008. In January this year, a total of 17.96 million tons of steel were exported, equivalent to the annual export level of 43.1 million tons. However, after June, the uncertainty of the economic outlook in Europe and the United States is still increasing, the inventory replenishment is slowing down, and various regions are gradually entering the summer break, and the steel export orders have shown signs of fatigue. At this time, China's cancellation of export tax rebates for some steel products will undoubtedly increase the pressure on China's steel exports

according to the document, there are 48 kinds of steel products whose export tax rebates have been cancelled this time, basically covering all hot coils, while the cold-rolled coils are 600mm wide products, including a small amount of profiles. Among them, hot rolled coil, medium and heavy plate, strip steel and large H-beam are the main varieties affected, and these products will no longer enjoy 9% export tax rebate. Statistics show that the export volume of steel products involved in the cancellation of the tax rebate this month was 7.03 million tons, accounting for 39% of the total export volume. As 90% of the total consumption of China's steel output is still in the domestic market, and the export volume only accounts for about 6%, the overall impact is limited

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