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On November 18, the Ministry of Finance issued a notice on adjusting export tax rebate policies. The announcement cancels export tax rebates for 59 products, including aluminum and copper materials, and reduces the export tax rebate rate for certain refined oil products, photovoltaic products, batteries, and some non-metallic mineral products from 13% to 9%, effective December 1.
In the short term, this policy is expected to increase costs for businesses. However, in the long run, the reduction in rebate rates could boost the prices of overseas products such as photovoltaic modules.
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