Research On Export Tax Rebate Policy Under The Background Of China-US Trade Friction

The export tax rebate policy is an important policy tool for China to promote the development of export trade.It conforms to international practice and is allowed by the WTO.China’s export tax rebate policy has been implemented since 1985.During the evolution of more than 30 years,the structural adjustment and policy changes of export tax rebate rates have changed with changes in the external environment and fiscal policies.Role.Against the backdrop of rising trade friction between China and the United States and the global economic downturn,the Ministry of Finance and the State Administration of Taxation issued a notice on September 15,2018 to increase the export tax rebate rate for 397 commodities such as mechanical and electrical products,including multi-component integrated circuit products,etc.The export tax rebate rate has increased to 16%.This policy reflects the government’s desire to stabilize foreign trade and boost exports.And clarifying the effect of this export tax rebate policy on China’s export changes is of great theoretical and practical significance for the future implementation of export tax rebate policy in a changing international environment.Therefore,this article takes the export tax rebate policy as the main research object,and evaluates its policy effect,providing a theoretical basis for the export tax rebate policy in the period of subsequent trade friction.This article first reviews related research on export tax rebates,sorts out domestic and foreign research literature,and analyzes the mechanism of export tax rebates by using tax effects and economies of scale.Enhance corporate profits to promote commodity exports,and at the same time form an industrial agglomeration effect on the basis of expanding export scale,improve production efficiency,further promote the upgrading of industrial structure,and enhance the international competitiveness of export commodities.Secondly,this article reviews the changes in China’s export tax rebate system since 1985,and describes the previous export tax rebates and changes in export development to analyze the impact of changes in export tax rebate policies on China’s export trade development.Through empirical observations,it is found that the changes in China’s total export tax rebates are basically consistent with the changes in total exports.If the export tax rebate rate is adjusted,China’s total export trade and structure will also change.It can be concluded that the export tax rebate has a certain impact on the development of China’s export trade.Then,this article selects the relevant data from January 2018 to June 2019,and uses the export tax rebate adjustment goods of September 2018 as the main research object,and uses the PSM-DID method to analyze.The research results show that the export tax rebate policy has no significant effect on the promotion of exports in the nine months after implementation.Regarding the negative impact of the US tariff hike again in May 2019 on exports,it would not be possible to completely iron out if it only raised the export tax rebate rate for commodities.Six months after the implementation of the export tax rebate policy,the total export of goods adjusted by the policy had a significant positive effect,and it was significant when the window width was 1 month and 3 months,respectively.Discussing by product,increasing the export tax rebate rate has a significant promotion effect on mechanical and electrical products.The policy lag is 6 months,but it has no obvious effect on plastic products.It shows that the impact of export tax rebate policy on different commodities is different.Finally,after reaching a conclusion,this article puts forward some policy suggestions based on the domestic situation.At present,China should continue to implement differentiated tax rebates and make full use of the short-term effects of export tax rebate policies during trade frictions.At the same time,it is necessary to improve the supervision of export tax rebates and prevent export tax fraud while promoting exports.If only the export tax rebate policy is implemented to stabilize external demand and boost exports,it may have limited effect.Therefore,we cannot rely on the export tax rebate policy alone.It should be coordinated with other policies to ensure that China’s export goods are not affected by trade friction and stabilize export trade.The healthy development of the national economy.