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Skr! China To Increase Export Rebate Rates On 397 Products Today

In order to improve the Policy of Export Tax Rebate, China’s Ministry of Finance and China’s Tax Bureau decided to increase the VAT Export Tax Rebate for the products of Mechanical and Electrical, culture and other products from September 15, 2018.

Products and adjusted tax rebates

On Friday, China’s finance ministry said that effective Sept. 15, Tax Rebate Rates for light-emitting diodes (LEDs), lithium batteries, multi-component semiconductors, machinery products, books and newspapers will be increased to 16 percent.
For some other products, the rebate will be increased but not to 16 percent. According to the statement, China will increase rebates for stainless steel products to 9 percent and steel pipes to 13 percent.
Rates for chemicals are also being increased, the statement said.

Skr! China To Increase Export Rebate Rates On 397 Products Today

Exceeded analysts’ expectations

China’s export growth has exceeded analysts’ expectations for the past five months, with some analysts believing Chinese exporters are rushing out shipments to beat fresh U.S. tariffs.

The ministry, in a statement on its website, did not say what the current rebate levels are on those products. China assesses a 16 percent value-added tax on some exports, so a rebate of 16 percent will mean exporters get back the full amount paid.

China and Egypt, New Boom of Investment Cooperation Arises!

September 12, 2018, SC-Zone—Expanding East Port Said Industrial Zone Investment Activity was held in Asia International Hotel Guangzhou. To explore the investment opportunities in Egypt East Port Said Special Economic Zone, HACOS has witnessed the New Boom of Investment Cooperation between China and Egypt!

China and Egypt, New Boom of Investment Cooperation Arises!

▲ Site from Explore SC-Zone and Expand Chinese Investments at East Port Said Industrial Zone

The conference has won great supports and responses from domestic and foreign media, economic and commercial department of Egyptian Embassy in China, enterprises and organizations. As a professional in enterprise services, HACOS was invited to the conference and has witnessed the new boom of investment cooperation between China and Egypt.

▲ Admiral Abdel Kader Darwish, the VP of Suez Canal Special Economic Zone Authority

▲ HACOS’s general manager, Harvey, and his teammates at the site of the activity

As the focus point of the Belt and Road as well as the essential support of Egypt participating in the construction of the Belt and Road, SC-Zone is bound to be the hub of regional logistics and other relevant value-added services with the increasing international investment and support from the Egyptian government.

▲ Admiral Abdel Kader Darwish, the VP of Suez Canal Special Economic Zone Authority

In addition, the Egyptian government is scheduled to expand public facilities in Port Said, and the most noticeable plan is to build a bridge across the Suez Canal.

Due to the special zone’s preferential policy for enterprises and the advantaged geographical locations, the traffic fort of Europe, Asia and Africa and the west intersection of the Belt and Road, lots of investors and enterprises express their intentions of cooperation during the conference.

▲ HACOS was in the investment activity of Expanding Chinese Investments at East Port Said Industrial Zone

As a professional brand that provides foreigners and foreign-owned enterprises with business services and solutions, HACOS has met many international friends and has enhanced the relationship with foreign trade units, laying a solid foundation for future communication and cooperation.

Attention! Dual Typhoons To Make Landfall In Guangdong!!!

According to the National Meteorological Center, the 23rd typhoon of the year ‘Barijat’ is approaching the Leizhou Peninsula, while the 22nd typhoon ‘Mangkhut’ will make landfall in Guangdong on September 16th.

Most powerful

A standby signal No.1 has been issued in Hong Kong, while the Shenzhen Meteorological Bureau has issued a white typhoon warning.

The first storm is currently forecast to arrive in southwest Guangdong province at around noon on September 13. The weather system began as a low-pressure area south of Taiwan yesterday morning and was upgraded to a tropical depression later in the day.

Typhoon Mangkhut

The second storm, Typhoon Mangkhut, is big, and experts are warning that it has the potential to develop into a super typhoon.

Storm tracking platforms indicate Typhoon Mangkhut will pass slightly to the north of the Philippines on Saturday, September 15, before continuing west towards Guangdong province.

Although typhoon Mangkhut is possible to change course, the storm appears set to make landfall in or around the Pearl River Delta on either September 16 or 17.

As of 3pm yesterday, Mangkhut was releasing gusts of up to 185 kilometers per hour, according to an estimate published by the Philippine Star.

By Saturday morning, wind strength may reach 240 kilometers per hour near the eye of the storm.

Attention!!!

Dual typhoons are coming, shippers and forwarders who are shiping in South China, please pay close attention to port information and weather forecast, and make an bepreparation for typhoons!