An unprecedented reduction of export rebate is on display as to the tune of 2,831 items involved in this adjustment, accounting for 37% in customs tariff from July 1, 2007.
The adjustment is aimed to promote sustainable development of economy by a raft of means, such as cooling down overheat of export to curtail swelling trade surplus, reshuffling exported commodity structure to curb ¡° high-energy consumption, high pollution¡± industry and to ameliorate foreign trade transformation and eschew trade conflicts. Products related to this adjustment include raw material and resources products, while mechanical equipments and fine chemical industry get the least benefits from it.
It is a heavy blow to low-end/resources industries such as bulk drug industry, alkali industry, TiO2 industry and phosphorus industry. The aforesaid industries have least advantage to survive in global market. Therefore, the adjustment will prod the upgrade of import/export.
Petrochemical general machinery industry in China still enjoy sound growth, drying equipment industry particularly which is laden with up-to-date technology and products and witness narrower gap with international enterprises. Domestic grinding machine industry even ascents itself in global market in some respects. Chemical industry-specialized nonstandard instruments ¨C column, still, groove and tank are representing their debut in international market.
2008 China Chemical Industry Sourcing Fair, to be held in INTEX Shanghai during October 28th to 30th, is dedicated to build up more convenient access to reach global professional purchasers with high-value-added chemical products. |
