[17 Dec] China to Cut Import Tax for Natural Rubber in 2010

China will cut import taxes for natural rubber and rubber smoked sheet to a maximum of CNY2,000 ($293) and CNY1,600 a metric ton, respectively, from CNY2,600/ton, effective Jan. 1, the Ministry of Finance said Wednesday.

Both natural rubber and RSS will be taxed at 20% up to the ceiling levels, the ministry said on its Web site.

RSS3 in Bangkok was traded at $2,730/ton Tuesday, but has risen to $2,800/ton due to the duty cut.

The ministry didn't give any specific reasons for the cuts. It said it is making adjustments to China's import and export taxes for 2010 with the goal of improving the country's economic structure and optimizing economic development.

(Source: irco.biz)