The export rebate rate of carbide blade increased to 16%, favorable export.
On October 22, the Ministry of Finance issued a circular on adjusting the export rebate rate of some products, raising the export rebate rate of photographic paper film, plastic products, bamboo flooring, straw and rattan knitted products, toughened safety glass, lamps and lanterns to 16%, and increasing the export rebate rate of lubricants, aircraft tyres, carbon fibers and some metal products to 16%. The tax rebate rate for some agricultural products, bricks, tiles, glass fibers and other products will be raised to 13%, and the export rebate rate for soybean meal will be abolished.
In addition, for the rest of the export products, the original export rebate rate is 15%, the export rebate rate is raised to 16%; for the original export rebate rate is 9%, the export rebate rate is raised to 10%; for the original export rebate rate is 5%, the export rebate rate is raised to 6%. It has been implemented since November 1, 2018.
The improvement of export tax rebate standard is a policy measure for the state to improve the export competitiveness of enterprises and support enterprises to expand exports on the basis of expanding domestic demand. Bai Ming, deputy director of the International Market Research Institute of the Research Institute of the Ministry of Commerce, said that raising the export rebate rate of products can objectively reduce pressure and export costs for enterprises. "Especially in the context of the rising trade frictions between China and the United States, export enterprises are facing additional tax pressures. It is undoubtedly a good policy to raise the export rebate rate of product value-added tax."
As we all know, cemented carbide blades are very popular, and alloy blades are widely used. Whether in construction industry, automobile manufacturing industry or transportation industry, cemented carbide blades are inseparable. However, the current manufacturing prosperity is not clear.
Industry analysts believe that in the uncertain period of manufacturing prosperity, the favorable export tax rebate policy will bring some hope to the cemented carbide industry which takes manufacturing industry as the main way. China's cemented carbide production has steadily increased due to the impact of the economic environment. It is estimated that the output of cemented carbide will reach 317,000 tons in 2018. According to the statistics of China Tungsten Association, the output of high-end cemented carbide products maintained a strong momentum in the first half of 2018. The output of cemented carbide in major tungsten enterprises increased by 16.42% year on year. The output of CNC blades in cemented carbide enterprises in the first half of 2018 increased by 34.81% year on year.