Plastics processing companies will face high-priced raw materials for a long time. The second is the export tax rebate pressure. At present, China's export tax rebate rate for Plastic Products has dropped from 13% to 5%, and the export profits of the industry have been further squeezed. The third is the pressure of trade friction. The EU and the United States levied anti-dumping tariffs on plastic products in China as high as 28.8% and 77.3% respectively. On July 19 this year, the United States announced the launch of an anti-dumping countervailing investigation on composite woven bags in China. The fourth is technical barrier pressure. On June 1 this year, the European Union implemented the REACH regulation. Plastics manufacturers are faced with the problems of registration, evaluation, and licensing, and must register with manufacturers or importers within the European Union. It has been estimated that the resulting increase in costs will result in a general increase of more than 5% in the export costs of related businesses to the EU.
The first is raw material cost pressure. International crude oil prices have continued to soar, leading to high prices for synthetic resins in the upper reaches of plastic products. Plastics processing companies will face high-priced raw materials for a long time.
The second is the export tax rebate pressure. At present, China's export tax rebate rate for plastic products has dropped from 13% to 5%, and the export profits of the industry have been further squeezed.
The third is the pressure of trade friction. The EU and the United States levied anti-dumping tariffs on plastic products in China as high as 28.8% and 77.3% respectively. On July 19 this year, the United States announced the launch of an anti-dumping countervailing investigation on composite woven bags in China.
The fourth is technical barrier pressure. On June 1 this year, the European Union implemented the REACH regulation. Plastics manufacturers are faced with the problems of registration, evaluation, and licensing, and must register with manufacturers or importers within the European Union.
It has been estimated that the resulting increase in costs will result in a general increase of more than 5% in the export costs of related businesses to the EU.
