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China may lift restrictions on copper concentrate processing trade

By Jiang Wei (chinadaily.com.cn)
Updated: 2008-12-25 16:59

China is likely to scrap the 17-percent value-added tax (VAT) and 10-percent export tariff on exports of copper concentrate for the processing trade, Caijing Magazine reported.

Processing trade refers to the business activity of importing raw materials and components from abroad and re-exporting finished products after processing.

Zhao Bo, deputy director with China Association of Nonferrous Metals Industry, was quoted by the magazine as saying the regulation has been completed and is expected to be released in 2009.

At the start of 2006, the country imposed restrictions on processing trade on certain high-polluting, high energy consuming and resource-intensive products, including copper concentrate.