China will scrap or cut export taxes on a range of grains, metals and other materials from 1 July. The move is aimed at boosting exports from domestic producers. Export taxes for wheat, rice, soybeans, and sulphuric acid will be eliminated.
Export taxes on some steel products will be halved to 5 percent, and the taxes for indium and molybdenum will also be cut from 15 to 5. The tax on some tungsten products will also be cut to 5 percent from 10. The country will also extend the low-season taxes for some fertilisers.
Source: CCTV
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