The Newest Policies of Jewelry Export
2008-08-22

                                   The Newest Policies of Jewelry Export

        1. Gold watch Case and gold watch strap are bought into the management domain of gold and its relevant products.         People's Bank of China and General Administration of Customs recently make a public announcement. In order to strengthen the management of gold and its products, according to "People's Republic of gold and silver Management Ordinance" (State of the [1983] No. 95, issued), now bring gold watch cases and strap into the import and export management domain of gold and its relevant products.         First, bring gold watch Case (80% gold content and above by weight), gold watch strap (80% gold content and above by weight) into the ¨”the import and export management Catalog of gold and its products¨•since August 1, 2008         Second, the custom product number of gold watch case is 9111100010; and the gold watch strap is 9113100010.         Third, when the product which is listed in the ¨”the import and export management Catalog of gold and its products¨•need customs clearance, the Customs should handle procedures according to the policy of "People's Bank of China to allow the import and export of gold and its products Card " which is issued by Center Bank head office or its authorized branch. 

        2. The export tax of aluminum alloy rises to 15%         The Ministry of Finance noticed that aluminum alloy which is under the general trade export begins levy the same tax rate as primary aluminum for 15% since August 20. The tax number is 76012000.        Erenow the aluminum alloy didn’t have any export tax. Last year the government raised the export tax rate of primary aluminum, so in the first half of this year, the situation of primary aluminum export was controlled, but aluminum alloy export raised hardly, up 60% compared with primary aluminum at the same time. So under the background, the policy was pushed out.        In the next half of this year, the exports of aluminum alloy inevitable reduce sharply, thereby increasing the domestic pressure on the supply of aluminum market. The other hand, as oil prices drop and the International Ocean Shipping costs down, the import costs of bauxite will be reduced accordingly, Alumina prices will probably continued to fall as well. For the two factors, the sluggish domestic Aluminum price will have a badly shock.      International Aluminum for the impact is different. This year, the Aluminum price up or down mixed in international and domestic, and seriously deviated from. Raise export tariffs is benefited to rise LME Aluminum price in the short term at least, which means that exports have declined, can ease pressure on the international market supply and reduce stock exchanges.      3. Five provinces begin trial operation of mining rights with unified system      Recently, the Ministry of Land and Resources issued a noticed¨”the notice of mining rights reunification of the testing programmer¨•. The testing provinces are Shandong, Zhejiang, Sichuan, Yunnan and Jiangsu. The work starts on June 1, 2008. Any mining permits that haven’t pass the allocation of unified system regarded as invalid.      The notice also prescribes these things: the mining rights permits, coding rules, the conditions of allocation and the processes of allocation. The other provinces will start the work on Decmber1, 2008