China beefs up steel export tax hit list; Jan. 1 hikes set

Dec 21, 2007 | 09:03 AM |

China's efforts to curb steel exports has landed some additional products in its sights, with the government set to impose or raise export taxes for various items beginning Jan. 1.

China's Ministry of Finance announced Friday that export taxes will either be imposed or rise on such products as coke, ferroalloys, steel billets and some finished products in the New Year, according to Xinhua News Agency. Temporary export tariffs also will be imposed on metal ores, coal and crude oil next year, the ministry was quoted as saying, although it failed to provide additional details.

The move stems from government efforts to rein in the rapid expansion of energy-intensive consuming industries, which in turn discharge more pollutants.

Next year, the nation will levy lower temporary import duties on more than 600 products, double the previous figure. The action on crude oil, coal, key equipment and component parts is aimed at trimming the trade surplus and optimizing the economic structure, the report said.....

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