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Commerce Ministry deny to decrease export drawback by 2%

Commerce Ministry deny to decrease export drawback by 2%

Write: Briony [2011-05-20]
The drawback of the industry with high cost and resource will be decreased by about 2%. Commerce has no comment on drawback and will not decrease drawback at present.

One overseas report show that during these two months, China is the export country for all steel product, The export drawback rate of steel may decreased from 13% to 8%.
Many scholars object to drawback, the undersecretary of Foreign Economy Research Ministry of State Department Development & Research Center told <>: We should change exchange rate instead of decreasing drawback, Drawback can not bring benefit because it can lead to import of commodity again, create great negative effect, distort China economy and result in great waste..