The adjustment of the export tax rebate rate includes a total of 219 customs tariff numbers for mechanical products, of which the petrochemical general machinery industry has 22 tariff lines, accounting for approximately 13.2% of the petrochemical general machinery industry's import and export statistics. The products with lower tax rebate rate are products with lower technical content and lower added value. In the export of petrochemical general machinery products, although products with higher technological contents and higher added value continue to grow, currently labor-intensive products and products with low added value such as some centrifugal pumps, some blowers, centrifugal fans, valve faucets, etc. However, it still occupies a considerable proportion and needs to be adjusted and optimized.
Reducing export tax rebates will increase the production costs of related companies, reduce profit margins, and affect the export competitiveness of these products. Some companies may face temporary difficulties. According to Zhang Yubao, Secretary-General of China General Machinery Industry Association, from the current situation, the impact of this policy adjustment on the industry is limited, and the relatively large-scale impact is mainly on private small-scale enterprises that produce medium and low-end general-purpose equipment for export. The products of large and medium-sized enterprises are mainly based on large-scale equipment, and such products are currently exported very little.
Relevant experts believe that in order to ease the impact of further adjustments to current and future policies, petrochemical general machinery enterprises must strive to improve management, reduce production costs, reduce intermediate link costs, and appropriately increase export product prices to mitigate the reduction in revenue; On the one hand, we must speed up the optimization of the structure of export products, develop products with independent intellectual property rights, strive to move closer to international advanced technical standards, increase the export of products with higher technological content and higher added value, and avoid the price of export products lower than the domestic market price. Caused the importing party to take anti-dumping and other trade measures.
According to customs statistics, from January to June this year, the value of the import and export of the petrochemical general machinery industry was US$25.983 billion, an increase of 31.88% year-on-year, of which US$16.908 billion was exported, up 45.8%, and US$9.074 billion was imported, up 11.97%; import and export surplus. 7.834 billion U.S. dollars, an increase of 4.357 billion U.S. dollars. The main products for import and export surpluses are petrochemical equipment with a surplus of US$113 million; oil drilling equipment parts have a surplus of US$315 million.
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