Adjustment of export tax rebate policy for some products
On November 15, 2024, China's Ministry of Finance and the State Administration of Taxation issued an announcement on the adjustment of the export tax rebate policy. From December 1, 2024, the export tax rebate for aluminum, copper, and chemically modified animal, plant or microbial oils and fats will be cancelled. For the specific product list, see Appendix 1. The export tax rebate rate for some refined oils, photovoltaics, batteries, and some non-metallic mineral products will be reduced from 13% to 9%. For the specific product list, see Appendix 2. It is expected that this round of adjustments will bring a wave of shipments of related products, which may put short-term production pressure on suppliers.