英语翻译Processing Trade Policy Change and China's Direction of Foreign Investment UtilisationIn a move to drive the transformation and upgrade of processing trade,increase resource utilisation efficiency and strengthen environmental protection,C

英语翻译Processing Trade Policy Change and China's Direction of Foreign Investment UtilisationIn a move to drive the transformation and upgrade of processing trade,increase resource utilisation efficiency and strengthen environmental protection,C
英语翻译
Processing Trade Policy Change and China's Direction of Foreign Investment Utilisation
In a move to drive the transformation and upgrade of processing trade,increase resource utilisation efficiency and strengthen environmental protection,China announced in September that the tax rebates for certain export products with low value-added,high pollution,high energy consumption and resource consumption will be abolished or reduced.Moreover,all the products for which export tax rebates have been removed now come under the prohibited category.
This policy change has dealt a hard blow on processing enterprises,especially those enterprises engaged in processing with supplied materials and the materials have now been included in the prohibited category.As they can no longer import the necessary raw materials for processing,these enterprises will be forced to stop production.Even though wholly foreign-owned and joint venture enterprises may import raw materials in the form of general trade,their production cost will soar due to the removal of tax rebates.
The latest policy change is in line with the targets set for foreign investment utilisation under China's 11th Five-Year Programme.It can be expected that in order to upgrade the product structure of processing trade and to expedite the shift of foreign investment from simple processing and assembly activities to high value-added and high technology sectors,as well as raise the production level,China is set to further adjust its processing trade policy and expand the list of products under the prohibited and restricted categories.
As China's industrial upgrade and transformation are imminent,efforts must be made by Hong Kong processing trade enterprises to change their operation mode,increase the value-added content of their production,implement clean production,and raise efficiency in resource and energy utilisation in order to avoid the fate of being eliminated.
Change in Processing Trade Policy
On 14 September 2006,the Ministry of Finance,National Development and Reform Commission,Ministry of Commerce,General Administration of Customs,and State Administration of Taxation jointly issued a circular on adjustments made to tax rebate rates for certain exports and the expansion of the prohibited category under export processing trade (Circular No.139 [2006]).Based on this circular,the Ministry of Commerce,General Administration of Customs and State Environmental Protection Administration jointly issued Circular No.82 on 3 November 2006,announcing the detailed list of products coming under the prohibited category in processing trade and for which export tax rebates have been removed (see Appendix).The newly revised list primarily covers high energy consumption and high pollution chemical and metallurgical products as well as products that consume large quantities of domestic resources.
The list further classifies products under the prohibited category into three sub-categories,namely "prohibited from export","prohibited from import" and "prohibited from import and export".Among these,the 77 items prohibited from import are mainly products barred from import under international conventions and products causing serious pollution during processing.Examples include tiger bones,mineral ores,slag,and fibre waste.The 503 items prohibited from export are mainly primary raw materials used in deep processing,such as boards,sulphur,earth,stone and metals.Processing enterprises importing these raw materials are still entitled to bonded treatment.The 224 items prohibited from import and export are mainly low value-added,high energy consumption and high pollution products,such as mineral water,coal,asphalt,combustible gases and pesticides.

英语翻译Processing Trade Policy Change and China's Direction of Foreign Investment UtilisationIn a move to drive the transformation and upgrade of processing trade,increase resource utilisation efficiency and strengthen environmental protection,C
为了推动加工贸易转型升级,增加资源利用率和加强环境保护,中国在9月宣布将要废除或减少对某些低附加值,高污染、高能消耗量和高资源消耗量产品的出口退税率. 此外,所有去除了出口退税的产品现在归入受禁止的类别.
这项政策的改变对加工企业给予一个沉重打击,特别是那些从事禁止类别材料的来料加工的企业.由于他们不能再进口所需的原材料,这些企业将被迫停止生产.即使独资和合资企业可能会以一般贸易的形式进口原材料,他们的生产成本因为取消了退税将上升.
最新的政策变化是为符合利用外资的目标根据中国的第11个五年计划所制定的.可以预期为了加工贸易产品结构的升级和加速外商投资从简单的加工和组装转变到高增值和高技术行业,以及提高生产水平,中国会进一步调整加工贸易政策和扩展被禁止的和被制约类别产品的名单.
中国产业的升级和转型是迫在眉睫的.由香港加工贸易企业必须作出努力,改变他们的运作模式,增加产品附加值含量,实施清洁生产,提高在资源和能源的使用率,以避免被淘汰的命运.