www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

   

China to slap export taxes on grains

(Xinhua)
Updated: 2007-12-30 15:56

China's Ministry of Finance said on Sunday that it would levy export taxes on wheat, corn, rice, soybeans and various processed grains in 2008.

The move is apparently aimed at reining in surging domestic prices, which have driven up the inflation rate, and it comes just a week after China scrapped tax rebates for grain exports.

Related readings:
Export rebates scrapped for agri-products
Farmers receive subsidies to buy electric appliances
 
China scraps grain export tax rebates
 China to levy export tax on grain products
 China's grain subsidies up 66% amid output shortage
 
China grain output exceeds 500 million tons

The export tax rates will range from 5-25 percent and affect 57 types of grain and grain products.

The rates for wheat and wheat products are 20 percent and 25 percent, respectively. The rate for corn, rice and soybean is 5 percent, while that for processed corn, rice and soybean products is 10 percent.

The move "will contribute to preventing the country from importing high international grain prices and will lower price expectations in the domestic market," said Cheng Guoqiang, a senior researcher with the State Council think tank -- the Institute of Market Economy, Development Research Center of China's cabinet

Several factors have driven up global grain prices this year: rising demand, adverse weather in key growing nations and increased use of grains for fuel.

On the prospect of rising global demand, soybean prices have surged by about 75 percent since the beginning of the year. Wheat prices hit a record high in Chicago on strong global demand and shrunken output after bad weather hit the world's major producers such as Australia and Canada.

Buoyed by demand from the ethanol industry, prices of corn have also risen. By Friday on the Chicago Board of Trade, the price of corn for March delivery rose to 4.55 U.S. dollars a bushel from 4.43 dollars the previous week.

A week ago, the ministry said that it would scrap a 13 percent export tax rebate on 84 categories of grain and grain products, effective December 20. Those rebates, together with high international grain prices, have boosted Chinese grain exports this year.

The nation exported 4.87 million tons of corn and 400,000 tons of soybeans in the first 11 months of 2007, up 85.3 percent and 23.8 percent, respectively, from the previous year. Exports of rice rose 5.8 percent to 1.13 million tons and exports of wheat soared 206.51 percent to 1.85 million tons.

Bumper grain crops this year, however, offer hope of slower price hikes in the world's most populous nation. Grain production, which has increased continuously since 2004, is expected to exceed 500 million tons this year.

Analysts said discouraging grain exports would be a new option to limit domestic grain prices since the lengthy grain production cycle could not be changed.

Soaring food prices drove the consumer price index (CPI) to an 11-year high of 6.9 percent in November. The prices of food, which has a 33 percent weighting in the CPI, soared 18.2 percent last month.

The high inflation rate, well above the target of 3 percent set by the government for 2007, has become a major issue for the government, which is concerned about its impact on the poor.

The grain tax move was the latest in a series of government efforts to ease the impact of higher consumer prices, including quintupling the tax on arable land used for non-farm purposes and lifting the individual income tax threshold.

Analysts said the government had given the tax system a larger role in protecting the area of land under cultivation, which has shrunk to about 122.6 million hectares, only slightly above the baseline of 120 million ha that has been designated by the government as necessary to provide sufficient food. South-east coastal regions, which used to be major grain producers, have become major consumers as that region of the country has industrialized.

From December 1, the country began to charge foreign-invested companies, which had been exempt from the land use tax, as much as their domestic peers. The government also ended the no-fee policy for the construction of railways, airport runways and parking lots and imposed a charge of 2 yuan per square meter on such projects.

Meanwhile, water supply, which affects the harvest, has risen high on the agenda of Chinese leaders, especially with drought affecting more of the country. On Friday, workers began tunneling beneath the Yellow River in eastern Shandong Province as part of the massive south-to-north water diversion project.

The 7,870-meter tunnel was designed to annually divert 442 million cubic meters of water from the Yangtze River to the northern banks of the Yellow River. Upon completion, the northern areas, which produce one-third of the country's grain output and gross domestic product, with about 20 percent of the country's average per capita water resource, would benefit, said Zhang Jirao, director of the South-North Water Diversion Project Office of the State Council.

Bearing in mind that rising food prices added to consumers' financial burdens, especially for low- and medium-income households, China's top legislature on Saturday adopted an amendment to raise the individual income tax threshold from 1,600 yuan (about $220) a month to 2,000 yuan.

Also on Saturday, the Ministry of Finance announced that it would offer provisional meal subsidies totaling 50.76 million yuan to college students to help stabilize school canteen prices.



Top China News  
Today's Top News  
Most Commented/Read Stories in 48 Hours
主站蜘蛛池模板: 久久夜视频| 久草福利社 | 国产精品亚洲第五区在线 | 色婷婷国产精品欧美毛片 | 手机在线看片国产日韩生活片 | 最新国产三级在线观看不卡 | 亚洲国产一区二区a毛片日本 | 一本久综合久久爱 | 欧美成人3d动漫专区 | 成人天堂av | 久久国产精品二区99 | 国产成人久久精品 | 亚洲精品亚洲人成在线 | 女人张开腿让男人操 | 日本在线观看免费视频 | 成人免费网站 | 一级毛片视频 | 在线看欧美成人中文字幕视频 | 99视频在线免费 | 一级毛片在线免费播放 | 美女视频黄免费 | 成人性免费视频 | 欧美成人免费观看的 | 国产主播福利片在线观看 | 国产午夜免费福利红片 | 亚洲乱码一区二区三区国产精品 | 日日a.v拍夜夜添久久免费 | 欧美在线 | 欧美 | 久久黄色毛片 | 6080伦理久久亚洲精品 | 国产草草影院ccyycom软件 | 久久99精品久久久久久秒播 | 色偷偷女男人的天堂亚洲网 | 成人黄色在线网站 | 日本特级黄毛片毛片视频 | 亚洲成人一区二区 | 在线欧美 | 日日爱影院 | 99久久免费精品国产免费 | 亚洲精品综合久久中文字幕 | 天堂资源8中文最新版在线 天堂最新版 |