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CISA: China steel trade tax revision to benefit industry

ABSTRACT

China’s tax revisions on steel imports and exports including cancelling export tax rebates on some products starting May 1 are strategic moves by the government after reviewing the market situation, and these are also part of the authority’s policies to curtail iron ore prices from soaring, control steel capacity and reduce steel output, the China Iron & Steel Association (CISA) stated in a post on April 29.
In the context of “carbon peak and carbon neutrality”, the foreign trade policy adjustments highlight the country’s policy preference when the country’s domestic demand grows while restrictions exist in resources and environment, and the domestic steel industry should be more eco-friendly, the association commented. CISA used the 53.7 million tonnes

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