皇冠体育app

Economy

皇冠体育app scraps export tax rebates on some steel, metal products

(Xinhua)
Updated: 2010-06-23 10:04

BEIJING-- 皇冠体育app's State Council, or Cabinet, has approved the scrapping of export tax rebates on 406 products, effective July 15, the Ministry of Finance (MOF) said Tuesday in a statement on its website.

The products included some steel and non-ferrous metals products, fertilizers, as well as some plastic, rubber and glass products, the statement said.

The ministry did not offer any reasons for this move.

The research center operated by the Galaxy Futures Company Limited said in a note that the new measure seeks to discourage exports of energy-intensive products in line with the government's intention to adjust industrial structures and cut pollution.

Related readings:  Tough situation makes full tax rebates for exports urgent  皇冠体育app hikes export tax rebates  皇冠体育app to raise tax rebates on textile, metal exports  Trade: Tax rebates hike for garment, textile exports

Bai Jingming, vice-director of the research institute for fiscal science with the MOF, said the new policy mainly targeted high-polluting and high-energy-consuming products, which is another "iron hand" measure by the government to save energy and further reduce emissions.

The State Council said in May that the government would use economic, legal, technical and even administrative measures, when necessary, to ensure meeting the goals set for cutting emission.

According to the plan laid out in 2006, 皇冠体育app will reduce its per unit GDP energy consumption by 20 percent, compared with 2005 levels, by the end of 2010.

Bai added, as 皇冠体育app was accelerating its economic restructuring, the country would allow taxation to play a larger role in promoting energy conservation and environmental protection.