Which PV products have reduced export tax rebate rates?

According to the above-mentioned government announcements, PV products included in the list of products with reduced export tax rebate rates are for PV cells, either installed or not in modules.

How does China's rebate rate affect photovoltaic exports?

This represents a 4% decrease in the rebate rate for photovoltaic exports, significantly impacting China's PV market, which heavily relies on exports.

What is the new export tax refund rate?

The export tax refund rate for certain products, including refined oil, photovoltaic products, batteries, and some non-metallic mineral products, will be reduced from 13% to 9%. Refer to Annex 2 for the detailed product list. The announcement will take effect on December 1, 2024.

What are export tax rebate mechanisms?

As an essential component of a country's tax system, export tax rebate mechanisms aim to balance domestic product tax burdens and allow domestic products to enter international markets at tax-free costs, thereby enhancing competitiveness and increasing exports. Key points regarding this change are summarized below:

Will reducing tax rebates increase the price of overseas modules?

Zhang added that, in the short term, it will result in an increase in corporate costs, but in the long run, reducing the tax rebate rate is expected to boost the price of overseas modules.

Will the tax rebate cut 'explosive' export volumes?

Yet, most overseas markets already have high inventory levels, so the export volumes may not see ‘explosive’ growth due to the tax rebate cut.