标题: Chinese government raised export tax rebate on certain chemical products and [打印本页] 作者: yangho 时间: 2008-11-18 11:22 标题: Chinese government raised export tax rebate on certain chemical products and
The Chinese government raised export tax rebate on DMF (Concerned listcos: Hualu Hengsheng and Jiangshan Chemical), glyphosate (Concerned listcos: Xin’an Chemical, Jiangshan Agrochemical & Chemicals, Huaxing Chemical, Yangnong Chemical) and MDI (Concerned listcos: Yantai Wanhua). Export tax rebated on DMF and glyphosate are raised by 4ppt, positive to the corresponding listcos. However, we expect it should have a limited affect on the listcos’ earnings as the prices might decline amid the increasingly fiercer competition in China. The recent share performance of the related companies has largely reflected the positives brought about by the tax rebate hike. We expect the corresponding listcos may continue to respond to this positive in the future.
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