IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 01 Jan 2011 | Removal date: 29 Dec 2020
Still in force

Import incentive

When import prices are above domestic wholesale prices, 7 enumerated Chinese importers will benefit from a VAT reduction to compensate for the difference.

Refunds would be given proportional to the difference between the final import price, and domestic purchase price of the gas, calculated by averaging data for each quarterly period.

The scheme sought to alleviate the huge losses that natural gas importers in the PRC were incurring up to this point in order to feed the increased demand for the gas and keep the industry healthy.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

120 Crude petroleum & natural gas
2711 Petroleum gases and other gaseous hydrocarbons.
271111 Natural gas
271121 Natural gas
334 Petroleum gases & other gaseous hydrocarbons, except natural gas
2711 Petroleum gases and other gaseous hydrocarbons.
271112 Propane
271113 Butanes
271114 Ethylene, propylene, butylene and butadiene
271119 Other

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