China phases out some export tax rebates
BEIJING --Just days after China relaxed the yuan from its peg to the U.S. dollar -- a move that could directly change the dynamics of China's international trade, Beijing ammounced June 22 that the central government is phasing out the export tax rebates for hundreds of product categories, including some plastics items.
Starting July 15, export rebate taxes will no longer apply to plastic waste and industrial scrap, including polyethylene, PVC, polystyrene, PET and other plastics.
The policy change may have minimal impact, however, since China is the world's largest importer of recycled plastics, but its exports of such materials are small.
The new policy also cancels export tax rebates for cellulose nitrate,cellulose acetate, carboxymethyl cellulose and compounds, cellulose ether and other related cellulose products.