问题描述：
英语翻译
Processing Trade Policy Change and China's Direction of Foreign Investment Utilisation
In a move to drive the transformation and upgrade of processing trade,increase resource utilisation efficiency and strengthen environmental protection,China announced in September that the tax rebates for certain export products with low value-added,high pollution,high energy consumption and resource consumption will be abolished or reduced.Moreover,all the products for which export tax rebates have been removed now come under the prohibited category.
This policy change has dealt a hard blow on processing enterprises,especially those enterprises engaged in processing with supplied materials and the materials have now been included in the prohibited category.As they can no longer import the necessary raw materials for processing,these enterprises will be forced to stop production.Even though wholly foreign-owned and joint venture enterprises may import raw materials in the form of general trade,their production cost will soar due to the removal of tax rebates.
The latest policy change is in line with the targets set for foreign investment utilisation under China's 11th Five-Year Programme.It can be expected that in order to upgrade the product structure of processing trade and to expedite the shift of foreign investment from simple processing and assembly activities to high value-added and high technology sectors,as well as raise the production level,China is set to further adjust its processing trade policy and expand the list of products under the prohibited and restricted categories.
As China's industrial upgrade and transformation are imminent,efforts must be made by Hong Kong processing trade enterprises to change their operation mode,increase the value-added content of their production,implement clean production,and raise efficiency in resource and energy utilisation in order to avoid the fate of being eliminated.
Change in Processing Trade Policy
On 14 September 2006,the Ministry of Finance,National Development and Reform Commission,Ministry of Commerce,General Administration of Customs,and State Administration of Taxation jointly issued a circular on adjustments made to tax rebate rates for certain exports and the expansion of the prohibited category under export processing trade (Circular No.139 [2006]).Based on this circular,the Ministry of Commerce,General Administration of Customs and State Environmental Protection Administration jointly issued Circular No.82 on 3 November 2006,announcing the detailed list of products coming under the prohibited category in processing trade and for which export tax rebates have been removed (see Appendix).The newly revised list primarily covers high energy consumption and high pollution chemical and metallurgical products as well as products that consume large quantities of domestic resources.
The list further classifies products under the prohibited category into three sub-categories,namely "prohibited from export","prohibited from import" and "prohibited from import and export".Among these,the 77 items prohibited from import are mainly products barred from import under international conventions and products causing serious pollution during processing.Examples include tiger bones,mineral ores,slag,and fibre waste.The 503 items prohibited from export are mainly primary raw materials used in deep processing,such as boards,sulphur,earth,stone and metals.Processing enterprises importing these raw materials are still entitled to bonded treatment.The 224 items prohibited from import and export are mainly low value-added,high energy consumption and high pollution products,such as mineral water,coal,asphalt,combustible gases and pesticides.
Processing Trade Policy Change and China's Direction of Foreign Investment Utilisation
In a move to drive the transformation and upgrade of processing trade,increase resource utilisation efficiency and strengthen environmental protection,China announced in September that the tax rebates for certain export products with low value-added,high pollution,high energy consumption and resource consumption will be abolished or reduced.Moreover,all the products for which export tax rebates have been removed now come under the prohibited category.
This policy change has dealt a hard blow on processing enterprises,especially those enterprises engaged in processing with supplied materials and the materials have now been included in the prohibited category.As they can no longer import the necessary raw materials for processing,these enterprises will be forced to stop production.Even though wholly foreign-owned and joint venture enterprises may import raw materials in the form of general trade,their production cost will soar due to the removal of tax rebates.
The latest policy change is in line with the targets set for foreign investment utilisation under China's 11th Five-Year Programme.It can be expected that in order to upgrade the product structure of processing trade and to expedite the shift of foreign investment from simple processing and assembly activities to high value-added and high technology sectors,as well as raise the production level,China is set to further adjust its processing trade policy and expand the list of products under the prohibited and restricted categories.
As China's industrial upgrade and transformation are imminent,efforts must be made by Hong Kong processing trade enterprises to change their operation mode,increase the value-added content of their production,implement clean production,and raise efficiency in resource and energy utilisation in order to avoid the fate of being eliminated.
Change in Processing Trade Policy
On 14 September 2006,the Ministry of Finance,National Development and Reform Commission,Ministry of Commerce,General Administration of Customs,and State Administration of Taxation jointly issued a circular on adjustments made to tax rebate rates for certain exports and the expansion of the prohibited category under export processing trade (Circular No.139 [2006]).Based on this circular,the Ministry of Commerce,General Administration of Customs and State Environmental Protection Administration jointly issued Circular No.82 on 3 November 2006,announcing the detailed list of products coming under the prohibited category in processing trade and for which export tax rebates have been removed (see Appendix).The newly revised list primarily covers high energy consumption and high pollution chemical and metallurgical products as well as products that consume large quantities of domestic resources.
The list further classifies products under the prohibited category into three sub-categories,namely "prohibited from export","prohibited from import" and "prohibited from import and export".Among these,the 77 items prohibited from import are mainly products barred from import under international conventions and products causing serious pollution during processing.Examples include tiger bones,mineral ores,slag,and fibre waste.The 503 items prohibited from export are mainly primary raw materials used in deep processing,such as boards,sulphur,earth,stone and metals.Processing enterprises importing these raw materials are still entitled to bonded treatment.The 224 items prohibited from import and export are mainly low value-added,high energy consumption and high pollution products,such as mineral water,coal,asphalt,combustible gases and pesticides.
问题解答：
我来补答展开全文阅读