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 announced 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 plastics waste and industrial scrap, including polyethylene, PVC, polystyrene, PET and other plastics.
The policy change may have minimal impact. Although China is the world's largest importer of recycled plastics, 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.
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