Steel exports enter a "negative policy" period
From July 1st, the Ministry of Finance and the State Administration of Taxation officially canceled the current VAT exemption policy for processing and exporting special steel products, and resumed the increase in value-added tax. Industry insiders commented that the introduction of this policy marks that the state's subsidy policy for the steel industry has been completely abolished. Accordingly, steel exports have also entered a "negative policy" period.
The “negative policy†period is naturally relative to the previous policy period. At the beginning, in order to pursue a trade surplus and guide enterprises to actively export, the state formulated an export tax rebate policy for the steel industry. The result of this policy is that most of the 20 million tons of steel exported annually by China are high-energy-consuming products. For such products that need to rely on imported ore, and use Chinese energy processing to export at low prices, the state has long been encouraged by export tax rebates, which is very abnormal. But this unusual cycle of loops has continued for many years. In fact, in recent years, after the crazy investment in the steel industry, the industry has continued to heat up and the production capacity has expanded rapidly. However, problems such as low industry concentration, unreasonable production layout, and contradictions in product structure have not been solved, and to a certain extent, serious.
Obviously, in order to adjust the industrial structure, guide the benign development of the industry, and achieve the goal of macroeconomic regulation and control, the state has begun to change its attitude, and the recovery of value-added tax for the processing of export-oriented steel is the vane of policy shift, and the country has fundamentally changed the “encourage high consumptionâ€. The beginning of a large number of exports of industrial products.
Some experts predict that, in addition to canceling export tax rebates, it is not possible to rule out the possibility of taxation on export steel. If the policy is fulfilled, it will have a lot of damage to the domestic steel industry. It is estimated that most of China's more than 800 steel companies will be in trouble, especially small and medium-sized steel companies. However, this approach will be more conducive to the development of the industry. At present, the concentration of steel industry in the world's developed countries is very high. For example, the steel output of the only Pohang steel plant in South Korea accounts for 65% of the country's steel output. The steel production of the top five steel companies in Japan accounts for 75% of the country's steel output. The steel production of six steel companies in the EU-15 accounted for 74% of the total steel production in the EU. France's Arcelor Steel Company almost covered all the steel production in France. In 2004, the steel production of the top 15 steel companies in China accounted for only 45% of national steel production. In the "negative policy" period of steel exports, unprecedented fierce competition will accelerate the integration and restructuring of China's steel industry, and will also promote the way for national steel companies to upgrade their technology to a certain extent, and strive to have a place in the high-end market.
The warning effect of steel exports entering the “negative policy†period for other high-energy and even high-pollution industries is also very obvious: as long as it is an industry that does not conform to the direction of industrial development and is not conducive to industrial restructuring, and does not conform to the concept of harmonious development. It is possible to conduct fundamental governance from the policy.
The authenticity of this information has not been confirmed by the international electrical network, for your reference only.
From: Yinuo Steel Logistics Network
The “negative policy†period is naturally relative to the previous policy period. At the beginning, in order to pursue a trade surplus and guide enterprises to actively export, the state formulated an export tax rebate policy for the steel industry. The result of this policy is that most of the 20 million tons of steel exported annually by China are high-energy-consuming products. For such products that need to rely on imported ore, and use Chinese energy processing to export at low prices, the state has long been encouraged by export tax rebates, which is very abnormal. But this unusual cycle of loops has continued for many years. In fact, in recent years, after the crazy investment in the steel industry, the industry has continued to heat up and the production capacity has expanded rapidly. However, problems such as low industry concentration, unreasonable production layout, and contradictions in product structure have not been solved, and to a certain extent, serious.
Obviously, in order to adjust the industrial structure, guide the benign development of the industry, and achieve the goal of macroeconomic regulation and control, the state has begun to change its attitude, and the recovery of value-added tax for the processing of export-oriented steel is the vane of policy shift, and the country has fundamentally changed the “encourage high consumptionâ€. The beginning of a large number of exports of industrial products.
Some experts predict that, in addition to canceling export tax rebates, it is not possible to rule out the possibility of taxation on export steel. If the policy is fulfilled, it will have a lot of damage to the domestic steel industry. It is estimated that most of China's more than 800 steel companies will be in trouble, especially small and medium-sized steel companies. However, this approach will be more conducive to the development of the industry. At present, the concentration of steel industry in the world's developed countries is very high. For example, the steel output of the only Pohang steel plant in South Korea accounts for 65% of the country's steel output. The steel production of the top five steel companies in Japan accounts for 75% of the country's steel output. The steel production of six steel companies in the EU-15 accounted for 74% of the total steel production in the EU. France's Arcelor Steel Company almost covered all the steel production in France. In 2004, the steel production of the top 15 steel companies in China accounted for only 45% of national steel production. In the "negative policy" period of steel exports, unprecedented fierce competition will accelerate the integration and restructuring of China's steel industry, and will also promote the way for national steel companies to upgrade their technology to a certain extent, and strive to have a place in the high-end market.
The warning effect of steel exports entering the “negative policy†period for other high-energy and even high-pollution industries is also very obvious: as long as it is an industry that does not conform to the direction of industrial development and is not conducive to industrial restructuring, and does not conform to the concept of harmonious development. It is possible to conduct fundamental governance from the policy.
The authenticity of this information has not been confirmed by the international electrical network, for your reference only.
From: Yinuo Steel Logistics Network
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