Phosphorus Industry China Monthly Report 1508(12 issues per year)

Date: 2015-09

” In July and Aug. 2015, the Chinese government released several policies to guide the transformation and upgrade of the fertilizer industry.

On 20 July, 2015, the MIIT issued the Guiding Opinions on Accelerating the Transforming and Development of the Fertilizer Industry, pointing out that the production capacity of nitrogenous fertilizer should be controlled at about 60.60 million tonnes with the utilized rate of production capacity improved to 80%, the production capacity of phosphate fertilizer should be controlled at about 24 million tonnes with a utilized rate of production capacity improved to 79% and the production capacity of potash fertilizer should reach at 8.80 million tonnes with a self-sufficiency rate improved to 70% by 2020.

On 11 Aug., 2015, approved by the State Council of the People’s Republic of China, the Ministry of Finance, General Administration of Customs and State Administration of Taxation issued the Notice On Restoring VAT Policy on Fertilizer which provides that from 1 Sept., 2015 on, fertilizers sold and imported by taxpayers should pay a flat value-added tax (VAT) of 13 percent, and the original VAT policy of exemption and refund after collection should stop execution accordingly.

Besides, on 12 Aug., 2015, massive explosions ripped through a warehouse storing dangerous chemical goods at Ruihai Logistics located in the Binhai New Area of Tianjin. These explosions have caught great attention from the society. On 14 Aug., 2015, the Work Safety Committee of the State Council of the People’s Republic of China released the Urgent Notice on Deeply Conducting Special Security Overhaul on Dangerous Chemicals and Inflammable and Explosive Materials. Accordingly, dangerous chemicals companies that cannot meet the conditions of safe production will be forbidden from operation. So after the explosions, yellow phosphorus companies will face stricter supervision in China.”

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