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New Measures Announced To Support Chinese Exporters

by Mary Swire, Tax-News.com, Hong Kong
Monday, May 16, 2016

In a May 9 guidance document, the State Council announced further measures to increase Chinese exports, including optimizing export tax refund policies.

The State Council noted that China's trade conditions remain "complex and rigorous." On an annual basis, exports are increasing by only 4.1 percent, while imports have fallen by 5.7 percent.

The document looks for Chinese governments at all levels to improve their export promotion activities in various areas. They include new measures to help private companies to diversify their global sales channels, such as the encouragement of cross-border e-commerce, together with ongoing policies, such as improvements to the efficiency of the export tax rebate payments system.

China's tax authorities have promised in the past to accelerate the mechanism for obtaining export tax rebates, so as to ensure their full and timely payment, and to expand export tax rebate services over the internet.

For example, the "Report on the Work of the Government," adopted by the State Council in March this year, specifically includes, as part of China's encouragement to businesses involved in foreign trade, an improvement to the structure of export tax rebates to ensure they are paid promptly and in full.