China Brewed Plan of Adjusting Downward Export Drawback Rates of Some Products

Chemical News: China Brewed Plan of Adjusting Downward Export Drawback Rates of Some Products

https://www.chemnet.com Jun 17,2010 PUWORLD
Wang Xinpei, spokesman from China's MOC said that the nation is planning to adjust downward export rebate rates of some products based on current import and export conditions.

According to Ministry of Commerce, cutting down export rebate rates of textile and synthetic leather would restrain surplus growth.

Since Sept 15th, 2006, China adjusted downward drawback rate of finished leather from 13% to 8% or 11%, with that of textile and furniture decreasing from 13% to 11%. Besides, drawback rates of some products were cut down again in last September.

As a result, trade surplus went down compared with that in the third and fourth quarters in 2006 in the first quarter of this year.
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