Recently, the United States, India, Peru and other countries have emerged a new wave of anti-dumping measures against China's tire export products. At the same time, domestic companies have to face a decline in the export tax rebate rate for tire products. Domestic and foreign tire companies are deeply involved in export trade. Dilemma.
Frequent anti-dumping
In June of this year, Titan Tire Company and the United States Steel Workers Union (USW) submitted a petition to the U.S. Department of Commerce and the U.S. International Trade Commission requesting the use of non-road tires from construction machinery, agriculture, etc. in China. Anti-dumping and anti-subsidy merger investigation.
According to the complaint, according to the quantity and amount, such Chinese products exported to the United States account for a large share of the domestic market in the United States and continue to grow, which has caused substantial damage to the US industry and continues to pose a substantial threat of damage.
The US investigation period for this case was selected from October 1, 2006 to March 31, 2007, and the alleged dumping margin was 87%. According to relevant data, China exported more than 14.95 million items to the United States in 2006, and total exports exceeded US$370 million. All trade and production companies that have exported products involving the United States during the investigation period will face allegations by the United States.
In the above cases, the US complainant claimed that India was chosen as an alternative country to calculate the dumping margin. However, Chinese tire products also encountered anti-dumping in India.
The Anti-Dumping Administration of the Ministry of Commerce and Industry of India recently issued an announcement to finalize anti-dumping investigations on twill tires of passenger cars and trucks originating in China and Thailand. Set CIF floor price for Chinese products, inner tube 10.06 US dollars/piece, tire inner liner 3.92 US dollars/piece, rubber tire 121.67 US dollars/piece. If an enterprise exceeds the limit price, no anti-dumping tax will be levied. If it is lower than the limit price, anti-dumping tax will be levied on the difference price. The reason for India's decision is that China's responding companies have not received market economy treatment.
This is not the first time that China’s tire export products have been anti-dumped. In recent years, with the rapid growth of China’s tire exports, it has caused many countries around the world to set up trade barriers. According to the Tire Branch of the China Rubber Industry Association, since 2001, Australia, Brazil, Peru, Egypt, Argentina, Turkey, South Africa, Mexico, India, and the United States have launched anti-dumping investigations on Chinese tire export products, including Peru and other countries. Said that it imposes punitive tariffs on China's tire products.
Decline in export tax rebate rate “forcedâ€
When tire companies frequently encounter anti-dumping overseas, the export tax rebate rate for tires will be adjusted from 13% to 5% from July 1, and tire companies will face increasing pressure on export costs.
A few days ago, companies such as Qingdao Double Star, Nguyen Tire and Aeolus have announced the impact of the export tax rebate rate adjustment on the company, and the profit reduction amounts to more than RMB 10 million.
However, insiders say that on the surface, tire companies have been subjected to both internal and external pressures of anti-dumping and reduction of export tax rebates. However, in fact, the adjustment of export tax rebate rate has a temporary and limited impact on most listed companies, but it can promote tires. The structural adjustment of the industry has achieved the goal of alleviating overseas anti-dumping pressures.
According to Zhao Yingjie, a consultant of Beijing Zhongyuan Information Technology Consulting Company, the main reason why China's tire export products frequently encountered anti-dumping was the low-price competition strategy of some tire exporters. In recent years, China's tire industry has developed rapidly. According to data from the National Bureau of Statistics, the national tire production in 2006 has increased to 430 million, second only to the United States, which is the world’s No. 1 in the world, and more than one-third of it is used for export.
However, the rapid development of the tire industry is facing structural imbalances. The first is a large number of manufacturers, small scale; followed by a relatively low technological content than the major products.
At present, the average production capacity of China's tire production enterprises is only 400,000 articles/year, and there are only 15 large companies with a production capacity of 1 million articles/year, 3 articles with more than 3 million articles/year, and 46 production companies in the United States. The average production capacity is 4.4 million pieces/year, and the output of 60 fixed-point tire companies in China is still less than the output of a large foreign company.
In addition, due to policy encouragement in previous years, many tire projects have been launched across the country. There are only 100 small tire companies in Shandong Province. These enterprises are small in size, poor in technology and equipment, and have low product quality. They compete to lower prices in exporting to developing countries. Some even dump money at a loss, relying on export tax rebates to maintain profitability, and seriously affecting the image of China's tire exports. This is also a tire product in China. Frequent anti-dumping reasons overseas. However, small-scale production of biased tires with low technical content is contrary to the trend of meridianization in the world tire industry.
Liu Jin, an analyst at Haitong Securities, said that the reduction in export tax rebate rate will force tire export prices to rise. As large manufacturers mainly export high-end products, price increases are relatively easy; while low-end product prices of small manufacturers are more difficult, so The adjustment of the export tax rebate rate will squeeze the living space of small manufacturers, which will in turn drive the increase in consolidation within the industry and reduce international trade frictions. This is favorable for listed tire companies such as Aeolus.
The decline in export tax rebate rate also encourages companies to increase investment, research and development of high-profit giant engineering radial tires, environmental protection tires and other high-end products, to challenge the monopoly of multinational companies on the world tire technology and development trends.
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