Qingdao Honor Building Products Co., Ltd

China cancels export tax rebates for aluminum products from December 1st - including aluminum profiles, aluminum strips, aluminum foils, and aluminum tubes! From December 1st, 2024, China has indeed canceled export tax rebates for aluminum and other products, including aluminum profiles, aluminum strips, aluminum foils, aluminum tubes, etc. Policy background The Ministry of Finance and the State Administration of Taxation of China jointly issued the "Announcement on Adjusting Export Tax Rebate Policies" on November 15, 2024. The announcement aims to further optimize the export tax rebate policy, promote the transformation and upgrading of the foreign trade structure, improve the utilization efficiency of resources, and reduce the disorderly outflow of resources. Policy content Products for which export tax rebates are canceled: Aluminum: including aluminum profiles, aluminum strips, aluminum foils, aluminum tubes, etc. Copper. Chemically modified animal, plant or microbial oils, fats and other products. Products with reduced export tax rebate rates: The export tax rebate rates for some finished oils, photovoltaics, batteries, and some non-metallic mineral products are reduced from 13% to 9%. Policy impact Increase the export cost of enterprises: The cancellation of export tax rebates for products such as aluminum will directly increase the export cost of related enterprises, because enterprises can no longer enjoy the tax benefits brought by export tax rebates. Guide enterprises to transform and upgrade: From a macro perspective, this policy is conducive to guiding enterprises to transform and upgrade, improve the technical content and added value of products, and thus gain stronger competitiveness in the international market. Promote the optimization of foreign trade structure: By adjusting the export tax rebate policy, the foreign trade structure can be further optimized and the sustainable development of foreign trade can be promoted. Countermeasures Strengthen technological research and development: Relevant enterprises should increase their efforts in technological research and development, improve the technical content and added value of products, in order to cope with the challenges brought about by the adjustment of export tax rebate policies. Expand the international market: Enterprises can actively seek new international market opportunities and reduce their dependence on a single market through diversified market layout. Improve production efficiency: Reduce costs by optimizing production processes and improving production efficiency, thereby enhancing the profitability of enterprises. Since December 1, 2024, China has canceled the export tax rebate policy for products such as aluminum, which is an important measure for the country to optimize the foreign trade structure and promote industrial upgrading. Relevant companies should actively respond to the challenges brought about by policy adjustments and maintain their competitiveness by strengthening technological research and development, expanding international markets, and improving production efficiency.