{"id":329,"date":"2015-01-16T10:22:09","date_gmt":"2015-01-16T02:22:09","guid":{"rendered":"http:\/\/demo.wpcharming.com\/construction\/?p=329"},"modified":"2017-11-03T08:21:26","modified_gmt":"2017-11-03T00:21:26","slug":"china-steel-tax-rebate","status":"publish","type":"post","link":"https:\/\/www.octalsteel.com\/china-steel-tax-rebate\/","title":{"rendered":"China cancelled export tax rebate for the Boron-Added steel products"},"content":{"rendered":"<p><strong>China cancelled export steel tax rebate for the Boron-Added products, the policy will affect 40% of the Chinese steel exports.<\/strong><br \/>\nFrom 1th, Jan, 2015, Chinese Ministry of Finance stated that China steel export tax rebate for the Boron-Added products have been cancelled. The boron-added steel products include flat and long steel products.(Hot rolled steel plate, steel coil, steel profiles, reinforced steel rebar, beams, steel channel, steel bars, etc.)<\/p>\n<h2>China steel export tax rebate cancellation affect steel exports.<\/h2>\n<p>These Chinese steel products after adding Boron chemical element would get tax rebate 9%-13%, so the cancellation is giving an hard attack on steel exporting. According data from Chinese customs, from Jan to November of 2014, China exported steel products 83,610,000.00 Tons. Increased 46.79% compared with the same period of 2013. From the above Boron Added steel products 26,204,000.00 Tons, 31.3% of all the exported steel.<\/p>\n<h3>Why boron-added steel products obtain export tax rebate.<\/h3>\n<p>Before that China Customs stated, for the steel with Boron \u2265 0.0008%, it can be declared as Alloy Steel. China supports alloy steel exports, so it will bring the tax rebate 9-13% when exporting. For the steel companies, it is a very good policy to have competitive price in the foreign countries steel market. Deputy Secretary of China Council Jiang said:&#8221; Chinese steel companies exported low steel products through adding boron element, to make the exporting price competitive at the international market.&#8221; &#8220;Boron Steel&#8221; has been an open secret for Chinese steel industry. On the other hand, this behavior is irritating the steel manufacturers from other countries.<\/p>\n<h4>Tax rebate for boron steel effect on Chinese domestic steel market.<\/h4>\n<p>In a short time, the big decline on the steel exporting will verify the ability of the China local consumption, if manufacturers maintain the status of mass production, it will cause a bad effect in the domestic market, to the excess production capacity of Chinese market, it is one disaster after another.<\/p>\n<p>For the long run, there is another chance, manufacturers might start adding other alloy elements like Chromium into the steel products, for receiving the steel export tax rebate.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>China cancelled export steel tax rebate for the Boron-Added products, the policy will affect 40% of the Chinese steel exports. From 1th, Jan, 2015, Chinese Ministry of Finance stated that China steel export tax rebate for the Boron-Added products have been cancelled. The boron-added steel products include flat and long steel products.(Hot rolled steel plate, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":3518,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[319],"tags":[12,13,14,16,18],"_links":{"self":[{"href":"https:\/\/www.octalsteel.com\/wp-json\/wp\/v2\/posts\/329"}],"collection":[{"href":"https:\/\/www.octalsteel.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.octalsteel.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.octalsteel.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.octalsteel.com\/wp-json\/wp\/v2\/comments?post=329"}],"version-history":[{"count":3,"href":"https:\/\/www.octalsteel.com\/wp-json\/wp\/v2\/posts\/329\/revisions"}],"predecessor-version":[{"id":3587,"href":"https:\/\/www.octalsteel.com\/wp-json\/wp\/v2\/posts\/329\/revisions\/3587"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.octalsteel.com\/wp-json\/wp\/v2\/media\/3518"}],"wp:attachment":[{"href":"https:\/\/www.octalsteel.com\/wp-json\/wp\/v2\/media?parent=329"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.octalsteel.com\/wp-json\/wp\/v2\/categories?post=329"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.octalsteel.com\/wp-json\/wp\/v2\/tags?post=329"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}