Export Tax Rebate Policy Adjustment 1St Anniversary Guangdong'S Commodity Exports Dropped By 3.5%

The export tax rebates for the 2831 commodities exported in July 2007 and the export tax rebates for 84 kinds of raw grain and their milling were abolished in December last year (hereinafter referred to as policy adjustment commodities). The growth rate of Guangdong's policy adjustment merchandise exports has slowed down for a year.

According to the statistics of Guangzhou customs, in the first half of this year, Guangdong's export policy adjusted commodities to US $60 billion 900 million, down 3.5%, export value accounted for 28.2% of China's similar commodities, and export growth increased from a rise to a decline. Compared with other main export provinces and cities, the export volume of goods exported by Guangdong was the most affected by the export tax rebate rate adjustment policy.

In the 1-6 month of this year, the total value of Guangdong's merchandise exports accounted for 32.4% of the total export value of the province, and its share decreased by 5.5 percentage points.

It is worth noting that the total value of merchandise exports accounted for 42.6% of the total value of foreign trade in Guangzhou and 7.5 percentage points.

The proportion of commodities adjusted by policy in Guangzhou area has dropped by 2 percentage points higher than that in Guangdong province. The problems reflected in Guangzhou area have universal significance in the whole province.

Guangzhou aluminum exports fell 97.1% in the first half of this year

In the first half of this year, Guangzhou's export policy adjusted commodities to US $8 billion 720 million, a decrease of 3.1%, compared with an increase of 28.2% over the same period last year.

Among them, the policy has an obvious inhibitory effect on the export of Guangzhou's "two high and one capital" products.

Taking aluminum as an example, in 1-6 months, the amount of aluminum exports under the cancellation of export rebate rate in Guangzhou was 9 million 403 thousand US dollars, and the sharp decline was 97.1% (320 million US dollars in the same period last year, a 4.1 fold increase). The proportion of total aluminum exports in Guangzhou in the same period decreased from 94.1% in the same period last year to 2.8%, accounting for 8.9% of the export value of aluminum materials in Guangdong over the same period.

In addition, in order to stabilize domestic grain prices and ensure food security in China, since the end of last year, three major policies have been put forward to abolish export tax rebates, impose provisional tariffs and implement export quota management.

Affected by this, the export volume of raw grain and its pulverized coal continued to fall.

In the first half of 2008, the 4113.5 tons of raw grain and its milling exports in Guangzhou, valued at 1 million 456 thousand US dollars, decreased by 86.2% and 82.5% respectively, of which the main exports were wheat or mixed wheat flour, which exported a total of 3492.2 tons, a sharp decrease of 88.1%, accounting for 85% of the export volume of raw grain and its flour milling.

Clothing, footwear and other traditional commodities are facing challenges.

From the perspective of export commodity structure, the traditional export commodities, such as garments and accessories, furniture and footwear, which affect the largest amount of money, are adjusted. The export value of commodities under the policy of adjusting the export rebate rate in July 1st has a wide coverage, which is a severe test for Guangzhou's export.

Traditional commodities such as clothing, toys, footwear and other traditional commodities have been cut down, such as the export tax rebate, the continuous increase of production costs of raw materials and labor, and the acceleration of RMB appreciation.

In the first half of 2008, clothing and accessories and toys in Guangzhou exported 1 billion 730 million US dollars and 140 million US dollars respectively, down 3.5% and 6.8% respectively. The growth rate was 12.1% and 30.8% in the same period last year. The export of footwear was 640 million US dollars, an increase of 6.9%, which was basically the same as that of the same period last year. While furniture and its parts exports maintained rapid growth, exports 620 million US dollars, an increase of 47.1%, an increase of 34.5 percentage points over the same period last year.

Adjustment of commodities to reduce export growth

From the first half of the year, the total export value of commodities under general trade in Guangzhou was 4 billion 800 million US dollars, down 6.3%, accounting for 52% of the total trade export value of Guangzhou in the same period, while the general trade export growth of Guangzhou was 15.3% in the same period. The policy adjusted commodities had begun to pull down the export growth of general trade in Guangzhou. In the same period, the export of commodities under adjustment in Guangzhou under the import processing item was 1 billion 840 million US dollars, an increase of 2.2%, which was 10.2 percentage points lower than that of Guangzhou's import processing export in the same period.

Customs officials said that the adjustment of export tax rebate policy has significantly inhibited the export of products of "two high and one capital" products in Guangzhou area, which easily caused trade friction, and the export of raw grain and its milling exports. As a result of policy adjustment, the total value of merchandise exports accounted for more than 4 of the total value of Guangzhou's foreign trade exports, while the export growth of Guangzhou in the same period increased by 14%, an increase of 8.1 percentage points over the same period last year, which has greatly affected the export of Guangzhou in the same period.