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Navigating China’s Latest Export Tax Rebate Adjustments: What Are the Implications?

2024-12-04
Starting December 1, 2024, China implemented significant changes to its export tax rebate system. The rebate rate for products such as refined oil, photovoltaic products, and batteries was reduced from 13 percent to 9 percent, while rebates for aluminum, copper, and certain oils and fats were eliminated. This policy shift aims to encourage domestic consumption and reduce export dependency, aligning with China’s broader economic goals. Businesses, particularly those in the metals and biofuels sectors, will face higher export costs, potentially reducing competitiveness and impacting global supply chains.
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