China to manage some steel exports with licensing regime from May 20 |
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Mon, 30 Apr 2007 08:36
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BEIJING (XFN-ASIA) - China will implement a licensing regime on some exports of steel products beginning May 20, the Ministry of Commerce and the General Administration of Customs said in a joint statement.The steel products under the licensing system include cold-rolled steel plate with carbon content of below 0.25 pct and flat-rolled non-coil with thickness of under 1.5 mm.The government recently announced that it is cutting export rebates on stainless steel products and some specialty steel to 5 pct, while removing tax rebates on another 83 steel products, effective April 15.In the first quarter China exported 14.13 mln tons of steel products, up 125.3 pct year-on-year, the China Iron and Steel Association said. In 2006 the country exported 43.0 mln tons of steel products, up 109.6 pct.China has been trying to discourage exports of some products in a bid to avoid friction with its major trading partners.kelly.zang@xfn.com
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China may resort to steel export licensing if export growth fails to slow-report 