China’s Finance Ministry has increased export rebates to help China’s steel industry tide over the economic burden of COVID-19 pandemic. China increased rebates for 1,084 products. Exports of stainless steel bars, wires, thin welded pipes, boiler tubes and carbon steel products are eligible for 13pc rebate.
Chinese producers can apply for a rebate or refund of the value-added tax (VAT) and consumption tax on products shipped to overseas markets. Chinese economy has been stressed as manufacturing and industrial activities could not resume to full potential after the Lunar New Year holidays in the last week of January.
Here is a list of stainless steel products which are eligible for 13pc tax rebate.
| HS Codes | Specifications |
| 72201100 | Hot-rolled stainless steel strip thickness ≥ 4.75mm (without further processing, width < 600mm) |
| 72201200 | Hot rolled stainless steel strip thickness < 4.75mm ( without further processing, width < 600mm ) |
| 72202020 | Thickness ≤ 0.35mm cold rolled stainless steel strip (without further processing, width < 600mm) |
| 72202030 | 0.35mm cold-rolled stainless steel strip, thickness < 3mm (without further processing, width < 600mm) |
| 72202040 | Cold-rolled stainless steel strip, thickness ≥ 3mm (without further processing, width < 600mm) |
| 72209000 | Other stainless steel strips (after hot-rolled or cold-rolled, width < 600mm) |
| 72221100 | Hot-worked stainless steel bars and rods with a circular cross-section |
| 72221900 | Hot-worked stainless steel bars and rods of other cross-sectional shapes (without further processing) |
| 72222000 | Cold forming or cold worked stainless steel bars, rods (except for cold working the stainless steel strip without further lever ) |
| 72223000 | Other stainless steel bars and rods (without further processing except hot or cold processed) |
| 72224000 | Stainless steel angle, profile and profile |
| 72230000 | Stainless steel wire |
| 73044110 | Cold rolled stainless steel seamless boiler tubes, including internal threads |
| 73044990 | Other seamless tubes of stainless steel, not cold-rolled |
| 73064000 | Stainless steel thin welded pipe with other circular cross-sections (fine welded pipe outer diameter not exceeding 406.4mm) |
| 73141200 | Stainless steel machine endless belt |
| 73141400 | Other woven fabrics of stainless steel |
| 75051100 | Pure nickel bars, rods, profiles |
| 75052100 | Pure nickel wire |
| 75061000 | Pure nickel plate, sheet, strip, foil |