Tariffs aim to reduce energy consumption
By Wang Yu (China Daily)Updated: 2006-10-31 08:35
The policy is expected to rein in exports which rely heavily on energy and resources, while encouraging their imports, Zhou said.
He expects to see results within this year.
"Rather than administrative and regulatory mandates, the authorities used a market mechanism to restrain exports of certain commodities of strategic importance and put a brake on the development of energy-intensive industries," Zhou said.
Although some enterprises may suffer from higher export costs, the policy will boost energy efficiency and keep manufacturers away from energy-intensive sectors, Gong Jinshuang, a senior researcher with China National Petroleum Corp, noted.
Some enterprises are already prepared.
"We will certainly witness our exports affected by the new policy. We will adjust our business structure to cushion the negative effect," a manager with Sinochem Guangzhou Import and Export Corp said on condition of anonymity.
China's trade surplus hit a new high of US$109.85 billion in the first three quarters of the year amid concern over disputes with its major trade partners and over-exploitation of resources.
Last month, the government cancelled or lowered export tax rebates on hundreds of products.
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