Since June 1st, with the approval of the State Council, the export tax rebate rate for some commodities has been raised. The core principle is to ensure that the share of export products in the international market remains unchanged.
Specific to the machine tool industry, there are five major categories of products related to the adjustment of the export tax rebate policy:
Increase the number of head planers with a tariff number of 8461201000-8461300000 cutting metal or cermet to 17%;
The tax number of the 8463900010-8464909000 rolling forming machine is increased to 17%;
The sawing machine with the processing number of materials such as 8465910000-8465990000 is increased to 17%.
Increase the metal cold drawing machine of 300 tons and below with a tariff number of 8463101100-8463200000 to 17%;
The tax number is 8466100000-8470900000 and the tool holder and self-starting die cutting head are increased to 15%.
In general, the adjustment is not very large. The tax rebate rate for cutting metal or cermet planers, sawing machines such as roll forming machines and wood processing materials is increased from 14% to 17%, an increase of 3 percentage points; and tool holders and self-starting heads, etc. The increase is only 1 percentage point.
Since August 2008, the state has made several adjustments to the export tax rebate rate. The main concern of the machine tool industry is that the export tax rebate rate for CNC machine tools from November 1st, 2008 increased from 5% to 11%. After a lapse of one month, on December 1, the export tax rebate rate was adjusted for 35 kinds of machine tool products. First, 9 cutting tools, the export tax rebate rate increased from 5% to 11%; the second is 7 insertion planers, from 11% increased to 13%; thirdly, 19 woodworking machine tools and machine tool parts increased from 13% to 14%.
On January 1, 2009, nine products of machine tool tools were again adjusted for export tax rebate rate. The ordinary insert planer increased from 13% to 14%, the planer increased from 13% to 17%, and the gauge increased from 13% to 14% and 17%. This time, once again, there are more and more products that have reached the 17% tax rebate rate in machine tools, which means that most of the products have already “touched the top†and there is no room for adjustment.
Regarding the latest adjustment of the export tax rebate rate, a common view of industry experts is that the significance of promoting the export of machine tool products is not great. Zheng Guowei, the director of the original import office of the China Machinery Industry Federation, made three comments on this. First of all, the export tax rebate rate for mechanical products, including machine tool products, is now at 17%. In terms of machine tool products, the tax rebate rate for metal processing products is generally 17%, and the non-metal processing machine tools and some tool products still have a small tax rebate rate of 17%. Although the latter two types of products can be adjusted this time, but overall there is little left, the adjusted products are basically adjusted.
Second, the impact of these policies on exports should not be significant. The most important factors for increasing exports are the increase in export demand and the expansion of export markets, and the adjustment of China's customs policy does not increase demand and market. Of course, as a policy stimulus, there will be some effects after all, but the estimated effect is limited.
Third, this policy should be temporary. For products that require structural adjustment such as the bullhead planer, the industry does not encourage multi-production, but this time they have increased their export tax rebate rate to the highest level of 17%, which is also the country's consideration of increasing the overall export volume. In the long run, although the tax rebate rate for such products will be raised this time, it will be transferred back sooner or later. From the perspective of industry and national development, such products should eventually be reduced or even discontinued. This adjustment is just an expedient measure.
Xu Shuzi, deputy director of the Marketing Department of China Machine Tool Industry Association, said that the five major categories of machine tool products are not very large in terms of total exports and exports, so the impact on exports is limited. The export volume of the head planer with the heading number of the 8461 series was only US$220,000 in January-March, which was lower than that of the same period of last year. The sawing machine with the tariff number 8463 series and the metal cold drawing machine are the sum of the two types of products. The export value for January-March was more than 26 million US dollars, which was slightly higher than that of the same period of last year; the tooling fixture with the tariff number of 8466 series, etc., the total export volume was still relatively large, reaching more than 20 million US dollars, but more than 3,000 over the same period last year. Compared with the export value of 10,000 US dollars, the decline is 30%.
The industry's overall attention to these five categories of machine tool products is not too high, on the one hand, their export quota and export ratio are relatively low, on the other hand they are not the industry's main products. In addition, for products such as the bullhead planer, due to the lower grades of products and more resources, it is the goal of industrial restructuring. Although the country has increased the export tax rebate rate for some products that need to be adjusted in the industry for the purpose of further encouraging exports, the export tax rebate rate for products that are eliminated such as the head planer is also 17%, but the state has Adjustments are still considered, such as the export tax rebate for abrasives.
Some experts predict that from the current situation, China's export decline in the first half of the year will remain at around 20%, and the decline is expected to narrow to around 12% in the second half. The export tax rebate is expected to stimulate China's exports to grow by a few percentage points, but the most important development of future exports is to look at the specific situation of shrinking external demand.
Specific to the machine tool industry, there are five major categories of products related to the adjustment of the export tax rebate policy:
Increase the number of head planers with a tariff number of 8461201000-8461300000 cutting metal or cermet to 17%;
The tax number of the 8463900010-8464909000 rolling forming machine is increased to 17%;
The sawing machine with the processing number of materials such as 8465910000-8465990000 is increased to 17%.
Increase the metal cold drawing machine of 300 tons and below with a tariff number of 8463101100-8463200000 to 17%;
The tax number is 8466100000-8470900000 and the tool holder and self-starting die cutting head are increased to 15%.
In general, the adjustment is not very large. The tax rebate rate for cutting metal or cermet planers, sawing machines such as roll forming machines and wood processing materials is increased from 14% to 17%, an increase of 3 percentage points; and tool holders and self-starting heads, etc. The increase is only 1 percentage point.
Since August 2008, the state has made several adjustments to the export tax rebate rate. The main concern of the machine tool industry is that the export tax rebate rate for CNC machine tools from November 1st, 2008 increased from 5% to 11%. After a lapse of one month, on December 1, the export tax rebate rate was adjusted for 35 kinds of machine tool products. First, 9 cutting tools, the export tax rebate rate increased from 5% to 11%; the second is 7 insertion planers, from 11% increased to 13%; thirdly, 19 woodworking machine tools and machine tool parts increased from 13% to 14%.
On January 1, 2009, nine products of machine tool tools were again adjusted for export tax rebate rate. The ordinary insert planer increased from 13% to 14%, the planer increased from 13% to 17%, and the gauge increased from 13% to 14% and 17%. This time, once again, there are more and more products that have reached the 17% tax rebate rate in machine tools, which means that most of the products have already “touched the top†and there is no room for adjustment.
Regarding the latest adjustment of the export tax rebate rate, a common view of industry experts is that the significance of promoting the export of machine tool products is not great. Zheng Guowei, the director of the original import office of the China Machinery Industry Federation, made three comments on this. First of all, the export tax rebate rate for mechanical products, including machine tool products, is now at 17%. In terms of machine tool products, the tax rebate rate for metal processing products is generally 17%, and the non-metal processing machine tools and some tool products still have a small tax rebate rate of 17%. Although the latter two types of products can be adjusted this time, but overall there is little left, the adjusted products are basically adjusted.
Second, the impact of these policies on exports should not be significant. The most important factors for increasing exports are the increase in export demand and the expansion of export markets, and the adjustment of China's customs policy does not increase demand and market. Of course, as a policy stimulus, there will be some effects after all, but the estimated effect is limited.
Third, this policy should be temporary. For products that require structural adjustment such as the bullhead planer, the industry does not encourage multi-production, but this time they have increased their export tax rebate rate to the highest level of 17%, which is also the country's consideration of increasing the overall export volume. In the long run, although the tax rebate rate for such products will be raised this time, it will be transferred back sooner or later. From the perspective of industry and national development, such products should eventually be reduced or even discontinued. This adjustment is just an expedient measure.
Xu Shuzi, deputy director of the Marketing Department of China Machine Tool Industry Association, said that the five major categories of machine tool products are not very large in terms of total exports and exports, so the impact on exports is limited. The export volume of the head planer with the heading number of the 8461 series was only US$220,000 in January-March, which was lower than that of the same period of last year. The sawing machine with the tariff number 8463 series and the metal cold drawing machine are the sum of the two types of products. The export value for January-March was more than 26 million US dollars, which was slightly higher than that of the same period of last year; the tooling fixture with the tariff number of 8466 series, etc., the total export volume was still relatively large, reaching more than 20 million US dollars, but more than 3,000 over the same period last year. Compared with the export value of 10,000 US dollars, the decline is 30%.
The industry's overall attention to these five categories of machine tool products is not too high, on the one hand, their export quota and export ratio are relatively low, on the other hand they are not the industry's main products. In addition, for products such as the bullhead planer, due to the lower grades of products and more resources, it is the goal of industrial restructuring. Although the country has increased the export tax rebate rate for some products that need to be adjusted in the industry for the purpose of further encouraging exports, the export tax rebate rate for products that are eliminated such as the head planer is also 17%, but the state has Adjustments are still considered, such as the export tax rebate for abrasives.
Some experts predict that from the current situation, China's export decline in the first half of the year will remain at around 20%, and the decline is expected to narrow to around 12% in the second half. The export tax rebate is expected to stimulate China's exports to grow by a few percentage points, but the most important development of future exports is to look at the specific situation of shrinking external demand.
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