The China Ministry of Finance confirmed this month that the abolition of the export rebate on certain industrial products will proceed. The products affected are mostly intermediate chemicals, metals and minerals that are energy intensive in their production and have not been transformed into value added goods. One example in the chemicals sector is titanium dioxide. Previously this has attracted a 13 percent tax rebate, but from 1 July the rebate will be abolished. The policy change will also affect zirconium chemicals and zirconia. For most zirconium chemicals, including zirconium basic sulfate and zirconium basic carbonate products, the existing 13 percent tax rebate will be abolished altogether. Exports of zirconium oxychloride, better known as ZOC, are also affected but will still be eligible for a 5 percent tax rebate.
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