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According to the website of the Ministry of Commerce of the People's Republic of China in the Indian Embassy, ​​the Ministry of Finance's Bureau of Safeguards issued an announcement on the final investigation of the Soda Ash special protection product originating in China on October 6th, which confirmed that the product involved caused disruption to the Indian market. As a threat, it is recommended that a 20% ad valorem tax be levied on the products involved.
The reason given by the Indian side is that the financial crisis in 2008 caused a sharp drop in Chinese product exports, and domestic excess production capacity required the development of new markets. As a result, the number of Chinese products exported to the Indian market has increased significantly since December 2008, and even in 2009. After the 20% temporary tax was levied in April, it continued to grow, and its market share also increased significantly during the same period.
At the same time, after comprehensive consideration of factors such as raw material prices, labor costs, interest rates, and sales expenses, the Indian Bureau of Safeguards believes that China’s exports to India have threatened the Indian market, and its number is likely to continue to grow in the future. Taxes are needed.
In fact, since the beginning of this year, Chinese soda ash makers have already “enjoyed†the treatment of 20% ad valorem taxes levied by India.
On January 16, on the application of the Indian Soda Industry Association, the Indian Agency for Safeguards initiated this special security investigation.
This reporter learned that the Indian Soda Industry Association includes Tata Chemicals, Gujarat Heavy Chemicals and other companies, accounting for more than 90% of domestic soda production in India. The Indian Soda Industry Association requires the implementation of four-year safeguard measures (including safeguard tax and quantitative restrictions) on China-related products, and it also requires the imposition of provisional safeguard measures.
From July 6th, the Ministry of Finance of India has re-imposed provisional safeguard measures on China's soda ash, with an ad valorem tax of 20% for 200 days. The deadline is November 5, 2009. The Ministry of Finance of India even stipulates that starting from April 20, due to the reason of Indian importers, the safeguard tax that has not been collected will have to be repaid.
The final report of the Bureau of Safeguards of the Ministry of Finance of India further deteriorated the export situation of Chinese manufacturers in the future.
"Since the soda ash industry also has the problem of overcapacity, exports have always been a better solution," said Zhu P, deputy director of the Information Section of the China Petroleum and Chemical Association.
In fact, with the majority of new soda ash production capacities in China starting production at the end of 2008 and early 2009, domestic soda ash production capacity has increased significantly. Statistics show that in 2009 soda production capacity reached 21 million tons, while domestic demand is expected to 16 million tons, and the overcapacity situation is serious.
Zhu P said that in the past few years, China mainly relied on exports to absorb some of its excess capacity. However, after the financial crisis, Chinese soda ash products have been impacted by low-priced products in the United States and other regions in the international market.
The sluggish domestic and international market demand has made it difficult for the Chinese soda ash industry to get out of the bottom.
At present, the capacity utilization rate of the soda industry is still low and idle. According to the analysis report of the China Petroleum and Chemical Industry Association, the operating rate of the soda ash industry in August was about 79%.
India's special security case has added to China's soda ash
Although a shot was fired on the investigation of the passenger car special security, India has made a genuine move to China's soda ash this time.