China cuts tax rebate on exports of steel, coal

摘要

China cut tax rebates on exports of some steel products and coal to restrict shipments abroad and address domestic shortages, the country's top planner said on Sunday. The tax rebate on some steel products will be reduced to 11 percent, while the refunds on exports of coal, tungsten, zinc, tin and antimony will be pared to 8 percent, the Beijing-based National Development and Reform Commission said in a statement on its Web site. It didn't specify what steel products are affected nor give the previous rates.