China Cancels Aluminum Export Tax Rebate Subsidy, Industry Faces New Challenges

On November 16, 2024, China’s Ministry of Finance and State Taxation Administration jointly issued a notice announcing the cancellation of the export tax rebate policy for aluminum products, effective from December 1, 2024. According to the official announcement, the primary aim of this policy change is to optimize the export product structure, reduce the export of high-energy-consuming and high-pollution products, and promote the domestic aluminum industry’s transition toward high-value-added products.

In recent years, the high export volume of aluminum products has sparked concerns in the international market about China’s dumping of aluminum. At the same time, it has exerted pressure on domestic energy consumption and environmental protection. The aluminum industry is known for its high energy consumption, with its production heavily reliant on coal and electricity. The cancellation of export tax rebates is intended to curb the large-scale export of low-value-added aluminum products and encourage enterprises to focus on developing high-value-added aluminum products, thereby enhancing international competitiveness.

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