China to Remove Import Duties on Wind, Hydroelectric Equipments
Resource from: CBCC Likes:2894
Apr 30,2010
China’s Ministry of Finance said the country will remove import duties and value added taxes on key technological equipment,
including machinery used to generate wind and hydro power.
The policy, which came into effect on 25 April 2010, will adjust import duty-free application conditions for ancillary
components for wind turbines as well as computer numerical control systems and components, excluding wind turbines, according
to a statement by the ministry on its website.
The wind turbine makers eligible for import duty benefits on turbine components are required to produce wind turbines with
capacities of 1.5MW and above, and have annual sales exceeding 300MW, without taking sales of turbines with more than 2.5MW
of capacity into account.
Turbine component manufacturers that apply for zero import duty are also required to provide ancillary components for wind
turbines with a capacity of 1.5MW and above. They must sell at least 300 or 100 sets of blades or generators for wind
turbines each year respectively.
China will not eliminate import duties and value added taxes for companies that import wind turbines with a capacity of 3MW
or lesser.
Large hydroelectric equipment producers are also entitled to the removal of import duties and value added taxes. The Chinese
government has made capacity requirements on five types of hydropower equipment.
The companies must submit applications by 25 May to enjoy the tax incentives. Provincial industry and information technology
departments as well as local customs and finance divisions will conduct initial assessments, and then summarise their
preliminary views and application documents and submit reports to the Ministry of Industry and Information Technology, in
conjunction with Ministry of Finance, the Customs, and the State Administration of Taxation by 10 June.
Prior to the import duty-free rules, the rates of import duty were 8% and 3% on the wind turbines and ancillary components
from countries under the Free Trade Agreement respectively.
Both wind turbines and ancillary components from other nations have the same import duty rate of 30%. The new rules are in
line with the Chinese government’s decision last November to ease the requirement that most of the components for wind power
equipment be made locally, and to regard products made in China by foreign companies as domestic-made items.
The import duty-free guideline for wind equipment makers may benefit several companies in China and abroad. Finnish wind gear
manufacturer Moventas plans to provide gears to the newly-developed 3MW turbines of China’s Dongfang New Energy Equipment, a
subsidiary of Dongfang Electric.
Massachusetts-based American Superconductor is supplying electrical control systems for wind turbines to Chinese wind turbine
maker Sinovel, and CSR Zhuzhou Electric Locomotive Research Institute as well as new entrant XJ Group and Shenyang Blower
Works. Swedish bearing manufacturer SKF is delivering main shaft bearings and sealing systems to Sinovel’s 3MW wind turbines.
(CBCC)
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
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