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According to the "Notice on the Reduction of Export Tax Rebate Rates for Some Commodities of the State Administration of Taxation of the Ministry of Finance" issued on June 18, from July 1st, the export tax rebate rate for 2,831 items has been adjusted, including six types of trailers. In addition to the semi-trailer products, as well as eight kinds of parts such as leaf springs for automobiles and seat recliners for vehicles, the export tax rebate rates enjoyed by these products when exporting are all reduced in different ways.
Some experts believe that the rapid growth of trade surplus last year, strong expectations for the appreciation of the renminbi, and the unfavorable balance of foreign trade surplus in the first quarter of this year may be the main reasons for the introduction of large-scale adjustment policies. Some analysts also said that the export tax rebate adjustment is mainly affected by the "high energy consumption, high pollution, resource" products and low value-added, low-tech products exports.
The policy aims to increase the export of high value-added, high-tech products, thus guiding enterprises to adjust investment directions and avoid blind investment and overcapacity. Fortunately, the range of automotive and parts products involved in this adjustment is not very wide. “Now profits are already very low. When exporting, we also consider that the tax rebate can bring some benefits. If our product export tax rebate rate is also reduced, that day will not be able to pass.†Although Mr. Wang’s words are slightly exaggerated, It does reflect the common mentality of many parts and components companies.
Fang Yan, secretary general of the Zhejiang Automobile Industry Association, told reporters that Zhejiang exports a large number of parts and components companies, and each move in the country's export tax rate will have a greater impact on them. “Faced with the relatively slow return of domestic counterpart funds and thin profits, there are more and more companies turning to exports. However, the reduction in export tax rebates also means a reduction in profits. Therefore, business concerns are widespread. â€
However, on the other hand, it can be seen that most parts export companies have a strong dependence on export tax rebates. Although, on the whole, China's parts and components export products are widely distributed, there are many types of products that can be provided, and their technological level and added value are also rising, but they are mainly concentrated on labor-intensive products. Product profits are generally low. As a result, export tax rebates have become an important support for many companies. In order to pursue short-term interests, some enterprises have also played a price war, relying on the "baseline" of profit from export tax rebates. The increase in low-quality and low-quality export products has, to a certain extent, led to the frequent occurrence of frictions between Chinese and foreign trade. In addition, many companies are small in scale. Exports are operated through agency companies. Part of profits are distributed to agencies. Once the export tax rebate rate is lowered, they will be under pressure.
"Enterprises must start from the aspect of improving product technology and product value, and increase their competitiveness in the international market, and cannot rely on tax rebates. Relying on tax rebates to achieve profitability is not a permanent solution." Teng Bole, Secretary General of China Automotive Industry Advisory Committee Express this.
There may be many companies secretly saying: This time is considered "escaped", then the next time? Before that, there were many arguments about the large adjustment in export tax rebates in July, and even there were rumors that vehicle exports were also included in the scope of adjustment. However, from the results of the announcement, both the scope and intensity were smaller than those that had previously been widely circulated. Therefore, some analysts believe that the country is very likely to implement the program more extensively and more vigorously. If this is the case, there will be second-round and third-round adjustments. If it involves a part of auto parts products every time, then, long-term, the impact on the export of parts and components will be far-reaching and huge.
"The state's policy of adjusting the export tax rebate rate is not specifically aimed at auto parts, but is more from an overall macro perspective. But in China's export of auto parts, there are indeed many low value-added, high energy consumption and high Contaminated products." Chen Bingyan, deputy director of the Policy Research Association of the China Association of Automobile Manufacturers, pointed out that measures taken by the state to discourage the export of these products can, to a certain extent, also promote the optimization of the structure of parts and exports. This also reflects the country’s adjustment direction in the component export strategy.
Export Tax Refund Decreases Boosting Export Structure Adjustment of Parts and Components
“We have long heard that adjustments involve cars and parts. Our hearts have been hanging. We are fortunate that we did not have our products in the list of products that need to be adjusted later.†Mr. Wang is a brake manufacturer in Zhejiang. principal. The document issued by the state on the reduction of export tax rebate rates for some commodities, which was just announced last month, has caused quite a few sighs with the company's similar parts and components company.