The "Plan" requires the implementation of the country's measures to expand domestic demand, stabilize the construction steel market, and guarantee the use of steel for key projects. The proportion of construction steel in domestic consumption is stable at about 50%. At the same time, the government will implement a moderately flexible export taxation policy, stabilize the international market share of steel products, and encourage indirect steel exports. Actively organize associations and enterprises to respond to trade frictions such as anti-dumping and countervailing, and ensure that direct exports and indirect exports are maintained at more than 15% of the total. Appropriate adjustments to the export tax rebate policy for high value-added steel products. Continue to implement export tariffs of 10% to 25% on pig iron, ferroalloys, steel billets, steel ingots, and low value-added wire rods and rebars; implement the measures that have already been introduced to abolish 67 tariff lines on steel products, speed up the progress of tax rebates, and ensure timely Full tax rebate; timely improvement of the technical content and high value-added steel products export tax rebate rate.
The finalized "Steel Industry Adjustment and Revitalization Plan" on steel tariffs and the specific rules of the new trade deal will be issued next month (March). The country will improve the export environment and adjust related imports while maintaining the stability of the domestic market in the future. The tax rate will ensure that the direct and indirect steel exports are maintained at more than 15% of the total. At the same time, the fair trade policy will be adjusted. It is reported that the above-mentioned measures will be led by the Ministry of Finance and will be introduced in March in conjunction with the Development and Reform Commission, the State Administration of Taxation, the Ministry of Commerce, and the Ministry of Industry and Information Technology.