Exports of resource products to be strictly controlled

China declared on Dec. 15 that export of some resource products, including rare earth, coke and refined oil would be put under control. Refined oil in processing trade, particularly, will be constrained strictly.

Seven ministries jointly issued the circulation, pledging concerted actions on controlling exports of resource products with high energy consumption and heavy pollution. These measures are taken when the government has found that export of these products remains an imminent problem even after steps have been taken to restrain exports of iron and steel, aluminum, ferroalloy and refined oil.

Quotas for rare earth will be reduced while quotas for coke will remain the same as last year. The Commerce Ministry and the National Development and Reform Commission will reconsider the quotas for gasoline, coal and diesel.

Processing trade will be suspended as of Jan. 1, 2006 for import of wood chips, logs, pulp, raw skins, scrap copper or copper sulphide concentrate. Export of pulp or paper, paper board, half-finished leather, leather and forged copper will also be stopped.

Alteration has been made on tax rebate policy. From Jan. 1, 2006, no tax rebate will be granted to exports of coke, raw skins, raw fur and leather in dry state (crust). Tax rebates will be reduced to 5 percent for exports of mercury, tungsten, zinc, tin, antimony, as well as magnesium and its primary products, and paraffin.

By People's Daily Online