China received a correction recommendation against the export restriction on rare earth, molybdenum and tungsten from WTO, but did not make any change in the export duty rates for 2015.|
This September, China received the correction recommendation against the export restriction on the above items. For that reason, the market watchers anticipated these export duty rates to be lowered for 2015, and paid attention to this time's announcement for the first change in the duty rates after WTO's correction recommendation.
However, in the list for the import and export duty rates the Ministry of Finance of China released on December 16, there was no change in the above items as objects of the regulation and the export duty rates remained unchanged. However, since the application for a license to become an exporter is not accepted for 2015, the market watchers see two items of license system and quota system were abolished.