Weekly News

Weekly News

Scrapping tax rebates on some 406 categories of exports, announced recently by the Ministry of Finance, is a clear signal of a shift from the two-year stimulus push back to a balanced economic model that relies less on exports. The current adjustment means the nation is gradually trying to curb exports in order to cut down its excessive trade surplus.

Export rebates will be out on some steel products, including hot rolled coil, as well cornstarch, glass and rubber goods, and pharmaceuticals, the Finance Ministry said on June 22.

Among these 406 categories, our lignosulphonate series (HS code: 3804000090) are included.

This is the tendency for lignosulphonate price increased.

Besides, the price of sodium gluconate and sodium naphthalene formaldehyde will be indirectly influenced due to steel & cornstarch products export rebates scrapping.

This is the link of 408 categories which will be canceled export tax rebate:

http://www.ce.cn/xwzx/gnsz/gdxw/201006/23/t20100623_21538886.shtml

The appreciation of the yuan, together with rising raw material and labor costs, has already squeezed profit margins inChina's export industries.

This has made the products more expensive.

What's more, with the recovery of World's Economic, the freight is increased heavily these several months.

Because of these factors, the price of our products is increased day by day.

Any requirement, pls save time.