New Adjustments to the Export Tariff

On November 25, 2008, the General Administration of Customs released the Announcement on Adjusting the Export Tariff (Including the Interim Tariff and Special Tariff) Rates and the Range of Taxable Products (the "Announcement"), effective December 1, 2008. This adjustment in export duty is a response to fluctuations in domestic production and consumption, as well as in the international markets. According to the Announcement, the export tariff or special tariff of 102 products will be eliminated. These products include certain types of steel, chemical products and grain products. In addition, the Announcement also specifies reductions and increases in export tariff rates and special tariff rates for certain categories of products, such as reductions for aluminum materials and increases for silicon materials. Depending on the products an enterprise exports, its related costs may be changed. Overall, the export costs are reduced for most enterprises.


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