Chinese government tightens up import regulations on ferrous scrap

摘要

The Chinese government has amended ferrous scrap import regulations in a move aimed primarily at curbing the activities of suppliers seeking to avoid higher taxes upon declaration.Full details of the legal amendments have still to be made available but, according to local press reports, the legislation was to become effective from August 1 and would adjust tax duties as well as impose stringent criteria to control the specifications of metal being labelled as scrap.