China Will Impose Export Tariffs On Grain, Three Exceptions In Hong Kong, Macao And Taiwan

The Ministry of Finance and the State Administration of Taxation jointly announced in December 17th last year that the export tax rebates for raw grain and wheat flour, such as wheat, rice, rice, corn and soybeans, will be abolished in December 20th, involving 84 tax provisions.

This year, China will levy five percent to twenty-five percent of export provisional tariffs on wheat, corn, rice, rice, soybeans and other raw grain and their milling.

The head of the Customs Tariff Commission of China's State Council on Tuesday explained that the move was aimed at preventing domestic grain prices from rising price expectations due to the rise in international grain prices and ensuring stable supply and price in the domestic market.

At the same time, it also referred to the corresponding practices of other members of WTO.

It is reported that since last year, the world's major grain producing countries have reduced grain production and the demand for biofuels is strong, and global food prices have risen sharply.

Since two, 00 and three years ago, China's grain production has been in good harvest for four consecutive years. Domestic grain stocks are abundant and domestic market is fully protected.

The official also said that the provisional tariff on export was mainly for raw grain exported to the international market and its milling, excluding similar products exported to Hongkong, Macao Special Administrative Region and Taiwan region.

He pointed out that the central government has always attached great importance to the supply of living necessities for Hong Kong, Macao and Taiwan compatriots.

Every policy adjustment has fully considered the impact on their production and life, and this time is no exception.

However, this is not for the purpose of collecting the provisional tariff of export, only for the supply of Hong Kong, Macao and Taiwan compatriots and the consumption of raw grain and their flour milling in this area.