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At present, China's coal market is very depressed. In the face of the impact of imported coal, Chinese coal companies seem unable to parry. Imported coal continues to enjoy zero-tariff concessions, making the already bleak domestic market even more chilly. Under such double-layered "internal and external troubles", people can't help but worry about how the future of China's coal industry should go.
According to the statistics of the General Administration of Customs, the amount of imported coal in China in 2011 was 182.4 million tons, up 10.8% year-on-year; in 2012, the volume of imported coal reached a record high of 290 million tons, and in the first 11 months of 2013, the accumulated coal in China Imports have reached the sum of 2012, and the industry expects coal imports to exceed 300 million tons in 2013. The impact of imported coal on the domestic coal market can be seen.
"The implementation of the zero-tariff policy of imported coal is tantamount to 'increasingly worse' for the coal industry. The market problems of overcapacity, structural imbalance and price decline will be more serious. The survival environment of coal enterprises in 2014 will be even worse than this year. The wave of mergers and acquisitions is expected to be staged again." Qiu Xizhe, a coal industry researcher at CIC Consulting, said.
The cost of mining between imported coal and domestic coal is not much different. The reason why coal prices in Australia and Indonesia are lower than domestic prices is mainly due to the heavy burden of domestic coal enterprises, while imported coal is zero tariff. Coal companies have called for years of coal resource tax reforms because of this. At the same time, the cost of production and operation management of state-owned coal enterprises is also high. In the face of zero-tariff measures for imported coal, domestic coal companies also hope to reduce some of their taxes and fees to reduce the burden on coal enterprises. But this luxury is hard to come by. Qiu Xizhe said: This is not related to the reform of domestic coal enterprises tax and fee. The zero tariff on imported coal and the tax reduction and exemption of export coal can not change the situation of excessive tax on coal, which greatly weakens the tax burden of coal enterprises. The reform of the system began.
Zero tariffs are bound to trigger the enthusiasm of foreign coal exports to China, but it cannot be avoided that the growth rate of China's coal demand is declining. Wang Zhanjun, director of the Economic Operation Department of the China Coal Industry Association, predicts that China's coal consumption will increase by about 3% in 2014. The sharp decline in consumption demand will inevitably lead to overcapacity in coal, falling prices, and expanding corporate losses.
In the face of zero tariff on imported coal, how will the domestic coal industry respond? Qiu Xizhe believes that on the one hand, relevant departments and local governments should encourage and support small and medium-sized coal enterprises to take the initiative to withdraw from the coal industry, concentrate funds in strategic emerging industries, in order to obtain better economic returns, and effectively reduce excess capacity and backward production capacity. On the other hand, there are about 100 kinds of taxes and fees related to coal, and various taxes and fees are no longer necessary. The taxation department should formulate and implement tax reduction and exemption schemes as soon as possible to help coal enterprises to reduce the burden.
Relevant industry insiders believe that for the zero tax rate of imported coal, it is possible to "force" the pace of market-oriented reform in China's coal industry. However, coal accounts for 70% of China's primary energy consumption structure. It can be said that it is not easy to carry out market-oriented reforms. Wang Xianzheng, president of China Coal Industry Association, said that coal is a commodity with special significance for China's economic and social development. There are still many tasks to be explored in the market reform, such as establishing a quality standard system for commercial coal and trading in the national coal market. System, coal market price discovery mechanism and price relationship between coal, oil and gas.
According to Qiu Xizhe's analysis, if the market-oriented reform of the coal industry requires the import of coal, nearly half of China's coal enterprises will face “blood disastersâ€. The effect of passive adjustment is far less than that of active change. The market reform process requires a number of strict implementations by government departments. Initiatives, and the current tax and fee reduction measures are obviously insufficient. For example, the direct-purchasing system for large users that has been in operation for more than ten years cannot be fully implemented, and market-oriented reforms can only stay at the theoretical stage.
Imported coal continues to zero tariff next year
Abstract The Ministry of Finance recently announced the “2014 Tariff Implementation Planâ€, which clarifies that various coal types will be included in 2014, including “unformed anthracite, whether or not powderedâ€, “coking coalâ€, “other bituminous coalâ€, &ldq
The Ministry of Finance recently announced the "2014 Tariff Implementation Plan", which clarifies that various types of coal will be included in 2014, including "unformed anthracite, whether or not powdered", "coking coal", "other bituminous coal", "unmade" The other coals molded, whether or not powdered, "coal bricks, briquettes and similar coal-fired solid fuels", "coal coke and semi-coke, whether or not formed", implement a 0% import tax rate for imported goods.