China to raise export rebate rate to stabilize exports

Reporter Han Jie rosen approved by the State Council, China's Ministry of Finance and the State Administration of Taxation jointly released, announced that from June 1 onwards to increase the export rebate rate of some commodities, the adjustment involved in the processing of agricultural products, electrical and footwear, glass products, steel products and other manufacturing areas of more than 2,600 tax purposes goods.　　This is the seventh time since the impact of the financial crisis in China last August to raise the export tax rebate rate, but also the recent release of China's further stability of foreign demand policy measures issued after another important export support. On the basis of a series of measures to support foreign trade growth in the previous phase, the general meeting of the State Council, held on May 27, has deployed six major measures to further stabilize external demand, emphasizing that the current and future period of contraction in exports is still the biggest obstacle to China's economic growth, while basing on expanding domestic demand,　　We must do everything possible to stabilize external demand. Liu Shangxi, deputy director of the Treasury Department, said in an interview 8th that the adjustment of the export tax rebate rate is the implementation of the State Council stability outside the need for a series of complementary policies of the latest measures, reflecting China will expand domestic demand and stable external need to closely combine the regulatory intent. "In the short term, the current export situation in China is still grim, and further increase the export tax rebate rate will help to reduce the cost of export enterprises, for the stability of external need to promote the role." "According to the two departments issued a joint" on the further improvement of the export tax rebate rate of some commodities, as of June 1, the Export tax rebate rate of TV-sending equipment and sewing machine has been increased to 17%, while the products such as canned goods, fruit juices, Sans, etc., such as electric gear pumps, semi-trailer and other mechanical and electrical products, optical components, etc.　　Insulin preparations and other drugs, bags, shoes and hats, loose hair products, toys, furniture and other goods export tax rebate rate also increased to 15%. Wang Zixian, deputy director of the Ministry of Commerce Policy Research, said that the stability of foreign demand for the current economic growth in China is significant, to stimulate economic growth, enhance the ability to resist risk and stable employment have an irreplaceable role. "The role of export to economic development may weaken in the short term, but the role of foreign trade as the engine for the long-term development of the world and China's economy has not changed radically." "In fact, in response to the adverse impact of the international financial crisis, since last year, China has issued a series of support for the stable growth of foreign trade policy measures: A number of consecutive increases in export tax rebate rate, the current comprehensive tax rebate rate reached 12."　　4%. Support SMEs to explore international markets, especially to open up new markets and establish marketing networks; multi-channel loans to help export enterprises to solve financing problems, since last November, a total of more than half a year of new loans in the country more than 6 trillion yuan ... Data show that although the total value of foreign trade imports and exports continued to fall by 24 this year January-April. 3%, but the month of April fell by 1 from a year earlier in the first quarter. 9%. In particular this year April and March the value of the chain import and export increased by 10. 4%, shows that China's foreign trade situation to maintain the signs of improvement in March, showing a stable situation. In addition, in the last two months, China's clothing and other labor-intensiveProduct exports from the decline to rise, general trade exports better than the overall, processing trade import and export decline also slowed.　　In the meantime, the Chinese government's regulation and control policy always runs through the main line of adjusting industrial structure and speeding up the transformation and upgrading of foreign trade. The Ministry of Finance disclosed that in the formulation of export tax rebate adjustment policy, always pay attention to deal with the relationship between the growth and adjustment of the structure, clear technology content, higher value-added products as the focus of increasing the export tax rebate rate, for the import of export growth to cultivate strength; at the same time, insist on the "two high investment" products to abolish export tax rebate policy This line does not relax　　Promote the transformation of export growth patterns. Andifu, a professor at Renmin University of China, said that to adjust the export tax rebate rate to stabilize overseas market demand is an international financial means.　　The Chinese government for different products to implement different export tax rebate rate, on the basis of increasing support, and further highlight the structure of the intention to focus on promoting the advantages of products, labor-intensive products and High-tech products exports. However, analysts pointed out that, despite some positive changes in China's economic operation, the future of China's export situation is still not optimistic. At the same time, the Government should make more efforts to expand domestic demand and transform the way of development, and give more support in the areas of expanding consumption, adjusting income distribution structure and expanding public consumption.