Mar.23 MetalBiz--"The steel industry’s industrial adjustment and revitalization plan" (the following referred to as "Plan"
was formally lay down on Friday, which emphasized on planning to control the volume ,eliminating backward products, reorganizing corporation, technological innovation and optimizing the layout, and strived to form super-large iron and steel enterprises such as Baosteel and Ansteel whose production capacity was more than 50 million tons all over the nation till 2011 by accelerating the reorganization of the domestic steel mills, as well as a number of large-scale ones whose capacity was 10-30 mln tons. At the same time, “Strategic Plan” requested the Ministry of Finance to take the lead, Uniting State Administration of Taxation, Ministry of Commerce and other departments, to complete the import and export tax rates adjustment of partial steel products in Mar.
Promoting export
“Plan” put "maintaining domestic market stability, and improving the export environment" in the first place among eight aspects of work in the current and later period of time in the steel industry. And it also put forward policies of expanding exports, while "Iron and Steel Industry Development Policy" was issued in July, 2005; and there was almost no mention of the problem on steel exports. Therefore, “Strategic Plan” reflected the country put great importance on promotion of steel exports.
Since the spread of financial crisis in H2 of 2008, China steel exports dropped significantly. Our total of steel exports in 2008 was 59,230,000 tons, a reduction of 3,420,000 tons year-on-year, down 5.7 pc, while entering in 2009, Chinese steel exports situation was further deteriorated. China's exports of crude steel was 3,690,000 tons, sank 4,090,000 tons on an annual basis, down 51.8 pc in January and February 2009.
Therefore, "Strategic Plan" suggested we should earnestly implement the measures of improving partial steel products export rebate tax rate, and appropriately improve export rebate tax rate of partial steel products with high technical content and high added value. At the same time, we should improve the export credit insurance policy and support for iron and steel enterprises setting up overseas marketing network so as to ensure the stability of the export share of high-end products.
According to the journalist, the Ministry of Finance would take the lead, uniting the relevant departments to finish the adjustment of partial import and export products rate in March. …
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