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China will cancel the tax refund for some exported products, effective from July 15th. According to the Ministry of Finance, the tax refund will be called-off on some exported steel, non-ferrous metals, silver powder, alcohol, corn starch, pesticides, medicines, chemical products, plastic goods, rubber and glass products.
Commerce Ministry spokesman Yao Jian, stressed that the cancellation of the tax refund aims to push forward the targeted energy consumption reduction in China. And it does not mean the tightening of the country's foreign trade policy.
China set the target in 2006 to reduce per-unit GDP energy consumption by 20 percent by 2010.