| China to cancel tax rebates for cement exports |
BEIJING, Sept. 26 (Xinhua) -- China will cancel tax rebates for cement exports within three years, the Xinhua-run China Securities Journal said on Tuesday.
Lei Qianzhi, head of the China Cement Association, was quoted as saying that cement exports will not be encouraged by the government, as the industry consumes too much energy and resources..
Cement exports are currently treated to an eight percent tax rebate.
According to official figures, China exported 11.29 million tons of cement in the first seven months of the year, up 114 percent on last year.
Lei said the dynamic growth is mainly due to strong demand in Europe, America and the Middle East.
He warned that cement producers should not be optimistic about their export prospects, as new capacity in the United States and the Middle East will fill the supply gap in one or two years. Enditem
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