China to adjust tax rebate for some products from Nov 1

China has decided to improve its export tax rebate policy to reduce the business burden and bolster foreign trade, according to a State Council executive meeting chaired by Premier Li Keqiang on Monday. The export tax rebates for part of nylon and polyester products will be adjusted from Nov. 1.

Effective from Nov 1, the tax rebate rate will be raised to 10% for caprolactam currently getting a rebate of 9%, and the rates will be raised to 16% for nylon 6 & 66 chip, PET bottle chip, PET fiber chip and BOPET that currently get 13%, while the rates for nylon 66 fibers (under 7 HS codes) will be cut from 17% to 16%.