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Abolishing export tariff on fertilizers eases difficulties of enterprises in central and western regions |
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12:48, June 30, 2009 |
Abolishing provisional export tariffs on grain products will stabilize overseas market demand
Starting from July 1, 2009, China will abolish the special export tariff on some fertilizer products including yellow phosphorus, phosphate ore, synthetic ammonia, phosphoric acid, ammonium chloride, triple superphosphate and binary compound fertilizer. Meanwhile, the provisional export tariff on products including fine French chalk, small and medium-sized profiled bars, as well as some nonferrous metals and their semi-finished products will also be reduced.
This export tariff adjustment will undoubtedly benefit fertilizer enterprises, and will greatly reduce their costs and increase their products' competitive edge in the market, helping to increase exports.
Since the beginning of 2009, fertilizer prices in the international market have remained low. In the first four months, China's export of fertilizers dropped by 63 percent year-on-year. Meanwhile, the domestic fertilizer market entered the off-season ahead of time and the demand for fertilizer dipped. The supply of some fertilizer products exceeded the demand, and the operation of fertilizer enterprises was generally quite difficult.
Affected by the international financial crisis, the decrease in exports caused by a shrinking overseas demand remains the largest difficulty facing China's economic development at present and in the near future.
China's foreign trade has encountered severe difficulties under the impact of the international financial crisis. Although the fertilizer industry consumes a relatively large amount of resources, it plays a very important role in the county, especially in the central and western regions, said Zhang Yansheng, director of the Foreign Economy Reach Office under the Academy of Macroeconomic Research, National Development and Reform Commission of China.
Detailed conditions of each region were considered, and more efficient tariff measures were adopted this time. The policy will continue to support the exports of labor-intensive products and high-tech products. Meanwhile, it will reduce operational costs of fertilizer enterprises in central and western regions.
Jia Kang, director of the Research Institute of Fiscal Science at the Ministry of Finance, believes that at present, there is still room for China to increase the rebate from export tax. The rebate will be specifically increased for industries which significantly improve employment opportunities and stabilize people's livelihood, and for innovative products which have independent intellectual property rights.
By People's Daily Online
http://paper.people.com.cn/rmrb/html/2009-06/29/content_284290.htm
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