BEIJING, Jan. 20– China’s Ministry of Finance on Tuesday said that changing export tax rebates for a range of products, including photovoltaic and battery products, will help comprehensively curb involution-style competition as the country moves to steer industries toward green, high-quality growth.
The ministry, together with the State Taxation Administration, issued an announcement earlier this month saying that export tax rebates for value-added tax on photovoltaic products will be canceled from April 1, 2026.
The export tax rebate rate for value-added tax on battery products will be reduced from 9 percent to 6 percent from the same date, and will be eliminated on Jan. 1, 2027, according to the announcement.
This adjustment to export tax rebate policies will help promote the more efficient use of resources, reduce environmental pollution and carbon emissions, and support a comprehensive green transition in economic and social development, ministry official Li Xianzhong said at a press conference.
The move will also encourage a more rational adjustment to the industrial structure, facilitate industrial transformation and upgrading, and promote high-quality economic development, Li noted. (Namibia Daily News/Xinhua)
