June 14Th Ministry Of Commerce: The Export Tax Rebate Rate Of Some Products Will Be Lowered.

Ministry of Commerce spokesman Yao Jian said in June 12th that the reduction of export tax rebates for some products should be implemented this year.

Yao Jian explained after the regular briefing of the Ministry of commerce that the adjustment of the export tax rebate policy is based on the task of saving energy and reducing emissions this year, which is the guidance of China's economic policy as a whole and the trade policy should also be coordinated.

In the first four years of the 11th Five-Year plan, the energy consumption per unit of China's GDP decreased by 14.38%, which means that this year we must drop more than 5.62% to achieve the goal of 20% reduction in energy consumption during the period of 11th Five-Year.

However, in the first quarter of this year, the energy consumption per unit of GDP increased by 3.2%.

According to the information disclosed by the teleconference of the national energy saving and emission reduction work in early May, the energy consumption per unit GDP climbed in the first quarter, mainly due to the rapid growth of the high energy consuming industries such as electricity, steel, building materials and petrochemical industries.

Yao said that with the implementation of the national policy of energy conservation and emission reduction and green environmental protection, some policies on some products may be adjusted.

But he did not give specific products.

The final catalogue will be announced by the State Administration of taxation.

On the choice of time, Yao Jian said that since the end of 11th Five-Year this year, the pressure of energy saving and emission reduction is very large. Therefore, the adjustment of export tax rebates for some products should be implemented this year.

Yao Jian stressed to reporters that even so, the overall policy of foreign trade, whether it is export tax rebate policy, or financial tax and trade facilitation policy, is generally stable.

Data released by the General Administration of Customs showed that exports increased by 48.5% in May.

Yao Jian believes that this is a large recovery growth on the basis of last May's slide to the bottom.

The impact of the European debt crisis has not yet fully emerged.

The Ministry of Commerce's joint research with several major exporters showed that the order contract was at least two months or longer from signing and shipping to foreign exchange settlement. Export data in May reflected the order contract before March.

"In the coming months, the negative effects of the European debt crisis on China's exports will gradually show up," Yao said. The Ministry of Commerce will pay close attention to the export situation in the next two or three months, especially in Germany, Spain and the United Kingdom. "In the case of the external environment is not very optimistic, the stability of trade policy is our first choice."