China to cut some grains, metals, steel export taxes

Published: 22 Jun 2009 00:32:07 PST

BEIJING, June 22 - China will scrap taxes on exports of grains including wheat, rice and soybeans and on flour made from the grains, and it will cut export taxes on a variety of metals and materials from July 1, the Finance Ministry said on Monday.

Beijing will halve export tax on some steel products to 5 percent from 10 percent as part of efforts to spur exports.

Effective from July 1, export taxes for indium and molybendium will also be cut to 5 percent from 15 percent and China will scrap a 5 percent export tax on sulphuric acid, said the ministry in a announcement posted on its Web site (www.mof.gov.cn).

The export tax on some tungsten products will also be cut to 5 percent from 10 percent.

Current taxes for grains and flour stand between 3 to 8 percent.

For a full list in Chinese, please click on http://www.mof.gov.cn/guanshuisi/zhengwuxinxi/zhengcefabu/200906/P020090622514083391299.xls