From the listed company's leading products, agricultural machinery, container and semi-trailer industry to benefit significantly.
Gospel tax profits rise to mechanical and electrical.
Will soon be gone in 2008 when, in order to help exporters to weather the economic crisis, the country once again adjusted the export tax rebate for some products.
bamboo furniture This is our fourth year, the export tax rebate adjustment, while in 2008 China's trade policy adjustments has become the most frequent of the year.
Adjust the export tax rebate for the fourth, insiders pointed out that the export enterprises is definitely a good news, but adjust export tax rebate is just one aspect of stimulating trade, the government should start in many ways, and actively nurture secured financing platform for SMEs, to correspond with industry enterprise development support for more public information, to build enterprise "Baotuan winter," the platform. Long-term appreciation of the RMB against the U.S. dollar under the premise of the adjustment of industrial structure, bamboo kitchen China's exports and trade surplus is the long-term plan to gradually reduce.
Looking at this year's four adjustments, is "not a good feeling in their hearts."
The first adjustment is August 1, 2008, the part of the textile and clothing export tax rebate from 11% to 13%; bamboo products and other commodities in the export tax rebate rate of 0% or 5% to 11%; part of the pesticide, bamboo flooring silver and battery, "two high" export tax rebate has been canceled.
The adjustment for some export enterprises applauded. Some analysts pointed out that the increase in export tax rebate rate by one percentage point each, equivalent to 1% of the total export increased corporate profits go directly to the export-oriented enterprises, the export tax rebate rate increase is the direct and produce rapid positive The.
Is pleased to export enterprises, 3 months later, the Ministry of Finance, the State Administration of Taxation, decided once again to adjust the part of the textile and clothing export tax rebate rate from 13% to 14%. The export tax rebate adjustment involves a total of 3486 commodities, about the total number of all goods in the customs tariff of 25.8%. From the adjusted scale, this adjustment, covering almost all textile and apparel products, including previously identified as "two high" products, viscose fiber products. "Universal Melody" shows that the textile exports of the State to judge the situation and support the attitude of foreign trade.
For this adjustment, because this year, weakened by the international market demand, yuan appreciation, rising raw material prices and labor costs and other factors, China's export growth slowed substantially reduced export profits. In particular, some labor-intensive small and medium enterprises to absorb more labor, employment, a wide range, but weak anti-risk ability, business facing greater pressures. Therefore, the appropriate adjustment through fiscal policy, also conducive to helping companies build confidence and overcome difficulties, to prevent sharp drop in exports while the impact of the passive situation of China's economic development.
In addition, raising the export tax rebate rate of labor-intensive products, can enhance the ability to withstand market risks, to support the healthy development of SMEs to overcome the operational difficulties, to the further enhancement of urban and rural labor force; improve high-tech, high value-added export tax rebate rates will help to guide enterprises to optimize the export product mix, accelerating the pace of industrial upgrading.
It is worth mentioning that this large-scale adjustment of export tax rebate rate, but also once again highlighted the Chinese government "to maintain growth," the macro-control intent, but also following the recent increase in commercial bank lending, the implementation of the new foreign exchange regulations and the two lower "dual rate" after another major regulatory initiatives.
The third adjustment is from 1 December 2008 onwards, to further improve some of the labor-intensive products, electrical products and other affected products, 3,770 large commodity export tax rebate rate. Cancellation of some steel products, chemicals and food export tariffs, reduce export tariffs on some fertilizers and adjust the tax method, the introduction of individual products or raise export tariffs.
The adjustment of foreign trade enterprises to ease the tension in the capital chain trace of the gospel is no doubt, to relieve the pressure on labor-intensive export enterprises the role played by the same can not be underestimated.
More than 3 times increase of textile, garments, light industry and some mechanical and electrical products export tax rebate rate, comprehensive tax rate increase of 1.6 percentage points.
After an interval of 1 month, the State further notice, decided since 1 January 2009 onwards, part of the technical content and added value to improve the mechanical and electrical products with high export tax rebate rate.
Industry experts pointed out that the four-year degree from the export tax rebate rate policy, despite the support of enterprises in China foreign trade policy has intensified, but the policy change runs through the back to adjust the industrial structure, accelerate industrial upgrading and transformation of the main foreign trade. Although the export tax rebate can not change the needs of foreign markets, but the export tax rebate can reduce the cost of Chinese products, improve market share in the world market.
Changjiang Securities: Machinery industry exports are not optimistic about the four stocks contrarian Bad.
Ministry of Finance and State Administration of Taxation announced on the 29th, from 1 January 2009 onwards, part of the technical content and added value to improve the mechanical and electrical products with high export tax rebate rate. This is the fourth time this year, China raised export tax rebates to ease the difficulties in exporting enterprises, maintain the steady growth of foreign trade.
Subdivision export tax rebate rate adjustment is as follows: Machine tool export tax rebate rate in November 2008 to 11% to 14% in 2009 -17%; marine spare parts export tax rebate rate in November 2008 to 13% to 17%; agricultural machinery products export tax refund rate from November 2008 to 9% -11% to 13% in 2009 -14%; container products export tax refund rate from November 2008 to 13% to 2009, 14%; semi-trailer the export tax rebate rate in November 2008 to 9% to 14% in 2009.
The main products from the listed company point of view, machine tools and shipbuilding industries listed no significant income, and in agricultural machinery, containers and semi-trailer industry to benefit from significant public companies, including: CIMC, JAC power, Su Changchai A and Leo shares.
Although the export tax rebate rate of increase is conducive to the increase in cash flow related businesses, but the global economic trends show that, in this economic crisis under the influence of a sharp drop in external demand growth, the domestic machinery products export growth in November or even negative growth , the expected growth in the global economy continued to drop against the backdrop of the domestic machinery industry outlook is not optimistic about exports, the export tax rebate rate of increase is difficult to change the downward trend in export growth industry.
Sealand Securities: export tax rebate rate focuses on "Relief" helpless "upgrade."
Following the December 1st 3770 increase after the export tax rebate rate, the export tax rebate rate increase is the fourth time this year, involving a total of 553 mechanical and electrical products, including high technology industries such as aerospace related products and technology more However, the larger the low export motorcycles, sewing machines and other related products.
State Council executive meeting on December 24 export enterprises proposed mitigation difficult to maintain steady growth of foreign trade of the seven policy measures, which clearly part of the technical content and added value to improve the mechanical and electrical products with high export tax rebate rate, and steadily promote transformation and upgrading of processing trade . Therefore, the export tax rebate rate increase is that the Government measures to maintain stability in the continuation of trade.
Ease the difficult business oriented. China's foreign trade with the current situation and the development of severe first 11 months of profit growth year on year trend of decline, we believe that this policy is to ease the introduction of more export business difficult, especially demand shrunk dramatically, with high inventory levels to the pressure of financial intermediation, for promoting the role of transformation and upgrading of processing trade is not significant. Throughout the previous export tax rebate rate increase, it is basically a labor-intensive for the affected and exports a large proportion of high mechanical and electrical products.
Trade frictions and trade disputes will increase next year. Recently, the United States and Russia have announced increases in import tariffs on Chinese steel pipe rate. This as a microcosm, combined with the current needs of the world's major economies, the reality of shrinking dramatically, we believe that despite the major world leaders have called for free trade, but the results are often due to economic reality and succumb to domestic pressure from interest groups instead of direct or indirect trade protection.