Export rebate Account Escrow loan increase to 90%

Four departments of the People's Bank of China, the CBRC, the Ministry of Commerce and the State Administration of taxation have issued notices to increase the amount of the managed Loans for export tax rebate accounts from 70% to 90% of the current tax refund.　　This will ease the export tax rebate cycle to the enterprise's capital occupation problem, is a stable export to promote economic growth, another move.　　The export tax refund account trusteeship Loan refers to the short-term liquidity loan which the commercial bank provides to the export enterprise with the tax refund receivable as the repayment guarantee, under the precondition of the enterprise's export tax refund account being held in order to solve the short-term financial difficulty of the export enterprise drawback. At present, enterprises from the export of goods to export tax rebate to the account, there is a long period. Even after the financial crisis, local tax rebates have been raised, which is still around one months or even months.　　This not only causes a certain amount of capital Zhanya to the enterprise, also makes the policy effect that the country increases the export drawback rate to be greatly reduced. In order to solve the short-term financial difficulties arising from the failure of export tax rebate to be settled in time, our country has started to carry out the export tax refund account escrow loan since 2001. Under the precondition of hosting the export tax rebate account, the Commercial bank provides the enterprise with the short-term liquidity loan with the export tax rebate receivable as the repayment guarantee, and the loan term is no longer than one year.