China to raise steel export rebates ‘at suitable time’ but no firm date set

Mar 23, 2009 | 09:18 AM |

China will change steel export tax rebates "at a suitable time," according to a steel industry revival plan, though no further indication was given of when the new measures might be introduced.

The new plan, part of the Chinese central government's efforts to help the steel industry weather the economic slowdown, also urges speedier industry consolidation and predicts an 8-percent year-on-year decline in steel output this year.

The government will "appropriately" introduce tax changes to help out exporters, the document said, without giving further details. It vows to "improve the environment for steel export and import" and help mills stabilize their global market share and encourage indirect steel exports.....

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