Latest developments on China's export tax rebate

SteelOrbis Shanghai According to the latest reports to SteelOrbis, Chinese government has finally reached an agreement on the new tax rebate rate for finished steel exports. The sources close to the matter indicated that the export tax rebate rate of steel products would decrease from the current 11% to 8%, but that of 23 high value-added steel products would remain unchanged. The new policy is expected to go into effect as of August 1, 2006.