The export tax rebate rate cut impact on different plates
  
To further control the excessive growth of exports to ease China's trade surplus is too large to highlight the contradictions brought about by, and optimize the export structure, inhibition of "high energy consumption, high pollution, resource-based" products of export, promotion of foreign trade growth pattern and import and export trade balance and reduce trade friction and the promotion of economic growth patterns and economic and social sustainable development, some of the goods of the country adjust export tax rebate policy.

Compared with the previous previous adjust, the export tax rebate policy adjustment efforts and scope is unprecedented, was included to adjust the "big list", the 2831 Customs Tariff merchandise all about 37% of the total merchandise. Obviously, this for A-share market and its listed companies in different sectors groups, its impact will be far-reaching consequences.

This year, our economy has continued to maintain stable and rapid development, but the current economic operation, there are some problems, of which foreign trade surplus is too large, investment growth continued to run high, excess liquidity and other issues are still outstanding. Excessive growth of foreign trade surplus, not only exacerbated the trade friction, and increased the excess domestic liquidity and the pressure of RMB appreciation. Therefore, in order to further control high energy consumption, high pollution and resource-based exports, increase energy, resources, products, key components of imports, and promote trade balance, this year has been part of several adjustments in merchandise import and export tariff rates, and adjust the policy great efforts and covers wide surprise of many people expected, showing the Government the balance of trade, a fundamental solution to the determination of the excess liquidity. A stock market as a whole from the point of view, a substantial trade surplus caused by the spread of liquidity to support the current round of bull market are the most fundamental driving force. Therefore, the export tax rebate policy adjustment will reduce the trade surplus on the extent to which investors deserve attention. If the trade surplus fell sharply, along with the implementation of tight monetary policy, then the A-share market will be up to loosen the foundation, and its far-reaching impact on the market.

Adjust this policy involving a total of 2831 merchandise. Specific content from the point of view, tariff policy of structural adjustment have three tendencies: First, high energy consumption, high pollution and resource-based exports curb by policy; second, to encourage imports of technology-intensive parts and components; three, daily consumer goods to encourage imports. Government policy is not easy import and export tariffs on exports and to encourage the suppression of imports, while the main objective is to adjust the import and export structure, on the one hand, domestic demand-based industries are to tilt, on the other hand to promote the continuous upgrading of the manufacturing sector.

On specific industries, chemical products: The export tariff adjustments relating to high consumption of energy resources and the wide range of chemicals, the export tax rebate cancellation involving 385 species, mainly of basic petrochemical products, basic inorganic chemical raw materials, metals and non-metallic compounds, as well as dyes and dye intermediates; export tax rebates reduced to 5% of the 239 varieties, mainly including the basic foundation of organic products, all kinds of additives, plastics, pesticides, rubber and viscose fiber. This exports a higher proportion of phosphorus chemical companies a greater negative impact on profits, such as Hing Fat Group,澄星shares.

For steel and non-ferrous metal industry, iron and steel and nonferrous metal products are basically every time the main target of tariff adjustments. However, the list of merchandise displayed on the adjustment, the adjustment involved in iron and steel products are mainly for the steel pipe, hollow profile products, rail and other steel products, pipe adjustment programs in general are the abolition of the present 13% of export tax rebates, with the exception of oil outside the stainless steel casing tubes, seamless steel pipe, rails and other iron and steel products are the current 13% export tax rebate rate down to 5%. Adjust the light of this mainly related to varieties of steel pipe, and steel pipe exports in the total proportion of non-and large iron and steel industry and therefore have limited impact. In addition, the export tax rebate related to non-ferrous metals has two aspects: one non-alloy aluminum rod be easy, such as non-ferrous metal processing products abolished export tax rebates; Second, other base metals and articles thereof (other than has been canceled and the cancellation of merchandise export tax rebates, as well as aluminum foil, aluminum tube, aluminum structures, etc.) the export tax rebate rate down to 5%. Clearly electrolytic aluminum production will be engaged in a listed company does not generate pressure, such as such as Jiaozuo Wanfang

For the textile and garment industry and cement industry, and its negative impact on the degree of vigilance. Garment export tax rebate rate down 2 percentage points, on the impact of the textile and garment industry should not be overlooked either, will be mainly as follows: to further reduce the industry-wide profits, and increase the survival of small and medium-sized export pressure, thereby affecting the amount of exports. Cement export tax rebate cancellation of large cement major has a certain degree of negative impact. Only because of the domestic cement lead with the ability to export cement products, cement products, therefore the cancellation of export tax rebate rate on the Conch Cement, Huaxin Cement and Jidong Cement has certain negative effects on