The most popular plan of China to reduce the expor

  • Detail

China plans to reduce the export tax rebate rate to 11%, and the plan has reached the State Council. China plans to reduce the export tax rebate rate to 11%, and the plan has reached the State Council. On August 22, 2003, the Financial Times reported that a researcher of the national development and Reform Commission recently revealed that at a macroeconomic forum held in Beijing at the end of last month, the national development and Reform Commission, the Bureau of statistics Experts from the Research Center for the development of the State Council to accurately grasp the actual situation of goods, the Chinese Academy of Social Sciences and the China Institute of structural reform unanimously prefer to "cancel the export tax rebate as soon as possible", for three reasons: the pressure of the national export tax rebate is too great; Ease the pressure of RMB appreciation; Reduce pressure for China's manufacturing crisis

according to the report, this person explained that the biggest crisis in China at present - the employment problem stems from the sharp decline of the manufacturing industry. The current policy inclines to foreign investment, and the export tax rebate causes unfair competition among domestic enterprises. Finally, a twist broach with an economic structure can be selected according to the requirements of customers: U-shaped or V-shaped curve

the report also said that according to the closest feasible plan, China is expected to reduce the export tax rebate rate from 2004, that is,

from the current 15% to 11%; At the same time, export tax rebates for wool, lead, coke, rare earth and tungsten will be eliminated first; The export tax rebate policy will be completely abolished around 2010. This will gradually weaken the impact of the Chinese government increasing the export tax rebate rate on the basis of 9.3% after the Asian financial crisis in 1998. It is reported that the State Council is carefully studying this

it is reported that the purpose of the export tax rebate is to enable the export commodities to enter the international market at the price excluding tax, so as to avoid the double tax on export commodities caused by the import country's levy of

tax, so as to improve the competitive advantage of export commodities. This is also a common practice in most countries and regions that implement value-added tax and consumption tax

however, there are problems with this policy in China, and the tax that should have been refunded to export enterprises in time is increasingly delayed. According to the statistics of the Ministry of Commerce and the General Administration of customs, by the end of 2002, the total amount of tax refundable in China had reached 250billion yuan; It is estimated that by the end of 2003, this figure will reach more than 350 billion yuan

what is more dangerous is that since the opening of the trust loan of the export tax rebate account in 2001, the financial risk

accumulated by commercial banks has increased day by day. According to the statistics of relevant departments, at present, the commercial banks have issued more than 50 billion yuan of this loan, and the loan is growing at an alarming rate, and the banks have been overwhelmed. Ironically, the export tax rebate has become the only contingent profit of some Chinese enterprises

Recently, the main leaders of the State Council have instructed relevant departments to address both the symptoms and the root causes, and strive to solve this problem in a relatively short time. At the same time, a person close to the inside disclosed that the top level of the State Council tends to gradually abolish the export tax rebate policy, and has decided that Vice Premier Wu Yi is mainly responsible for it, led by the national development and Reform Commission, and relevant departments coordinate to accelerate the reform of the export tax rebate policy

a person from the central financial and economic leading group explained that due to the rapid growth of exports, the central government intends to reduce the export tax rebate by

degrees, which can not only reduce the pressure on the central government's finance, but also slightly ease the pressure on the appreciation of the RMB. However, this policy has encountered different opinions and even opposition in Guangdong, Jiangsu, Shanghai and other major export provinces (cities)

according to relevant statistics, from 1995 to 1997, the state allocated about 15% of the total revenue of the central government every year for export tax rebate

An expert from the development research center of the State Council believes that the high export tax rebate system adopted by China is actually a huge loss to the national finance. According to the comprehensive balance calculation, China's export is actually equal to the loss of export to foreign countries. The government finance department has found that when the lower collet clamping button is pressed to clamp the test piece, the situation is normal, which may indicate that the working oil circuit is not smooth when the lower collet is loosened, so it is no longer necessary to subsidize the export of foreign exchange, and it is becoming more and more difficult to stick. In fact, the funds saved from the cancellation of export tax rebate can be used to subsidize agriculture, so as to expand the largest domestic demand market in rural areas

Copyright © 2011 JIN SHI