China to Reduce Steel Export Tax Return

Chinese government said at private and governmental steel talk with Japan in Tokyo China will control the steel export by reducing existing 11% tax return for steel products export to between 5-11%. China tries to reduce steel export by reducing incentive when China increases steel output and export with recovering Asian steel price. China reduced tax return from 13% to 11% on May 1, 2005. The government considers reducing the return to between 5-11%. However, China didn’t refer to when it reduce the return.

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