MARKETS

Rate to dampen exports

A NEW coal export tax rebate rate to discourage coal exports has come into effect in China this y...

Angie Tomlinson

According to an AMI report, the export tax rebate for steaming coal changes from 13% to 11%, for semi-coke from 15% to 5%, and for coking coal from 13% to 5%.

The Chinese government hoped the rate change will impact negatively on coal exports and promote the development of the coal industry.

AMI quoted experts as predicting the reform will result in a 700-million Yuan loss in profit for China's coal export enterprises.

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