{"id":78898,"date":"2020-03-17T11:16:26","date_gmt":"2020-03-17T11:16:26","guid":{"rendered":"https:\/\/tin.happy-projects.ro\/coronavirus-crisis-china-aims-to-revive-trade-by-cutting-port-fees\/"},"modified":"2025-09-19T08:52:52","modified_gmt":"2025-09-19T08:52:52","slug":"coronavirus-crisis-china-aims-to-revive-trade-by-cutting-port-fees","status":"publish","type":"post","link":"https:\/\/www.timberindustrynews.com\/ro\/coronavirus-crisis-china-aims-to-revive-trade-by-cutting-port-fees\/","title":{"rendered":"Coronavirus crisis: China aims to revive trade by cutting port fees"},"content":{"rendered":"

China's government is suspending or reducing port fees and other transport costs, a move that is expected to help revive exports and imports as the country recovers from the coronavirus outbreak.<\/em><\/p>\n

All port construction levies applying to imports and exports have been be waived from 1 March to 30 June, while some other port fees, including port security charges, will be reduced by up to 20pc over this period, Chinese premier Li Keqiang said after chairing a state council meeting.<\/p>\n

Charges for non-tanker cargo vessels will be cancelled, and the cost of railway insurance and fees on containers and freight cares will be halved by the end of June. The council is also examining road toll reductions to help the transportation sector hit hard by the coronavirus impact.<\/p>\n

For commodities, the port fee reductions could reduce coal costs by 6.50 yuan\/t, or about $1\/t, coal importers forecast. The reduction may have limited impact\u00a0on thermal coal demand.<\/p>\n

The fee reduction will also reduce the cost of portside iron ore, which includes Yn25-30\/wet metric tonne in port fees, potentially narrowing its differential to seaborne prices.<\/p>\n

China's central bank has responded to the coronavirus outbreak with monetary easing, similar to other central banks, but yesterday's move is part of a more aggressive fiscal response than other regions, especially the US and the EU that have relied more on monetary easing to counteract the slowdown.<\/p>\n

Chinese provinces and localities as of yesterday have announced planned investment of Yn2.79 trillion ($400bn) on projects for 2020. China's finance ministry pre-approved Yn848bn in local government bonds last month, which followed an accelerated rollout of provincial bonds at the start of the year.<\/p>\n

China two weeks ago began allowing Chinese firms to apply for exemptions to import tariffs on nearly 700 products. Exemptions have been approved for\u00a0LPG\u00a0and\u00a0petroleum coke, and are anticipated for coking coal,\u00a0lifting spot trade.<\/p>\n

Beijing also announced tax relief for affected industries including value-added tax exemptions for people working in transportation, tourism and delivery services.<\/p>","protected":false},"excerpt":{"rendered":"

China’s government is suspending or reducing port fees and other transport costs, a move that is expected to help revive exports and imports as the country recovers from the coronavirus outbreak. All port construction levies applying to imports and exports … Continue reading →<\/span><\/a><\/p>","protected":false},"author":1,"featured_media":64135,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[4713,4716,4715],"tags":[3254,4292,4304],"class_list":["post-78898","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-companies-in-the-timber-industry","category-latest-trends","category-market-analysis","tag-china","tag-coronavirus","tag-port-fees","topic-forestry","topic-industry-prices","topic-pulp-paper","topic-sawmilling","topic-wood-construction","topic-wood-furniture","topic-wood-based-panels","topic-woodworking-machinery","area-africa","area-asia-middle-east","area-australia-and-pacific-region","area-china","area-europe","area-north-america","area-south-america"],"acf":[],"yoast_head":"\nCoronavirus crisis: China aims to revive trade by cutting port fees - Timber Industry News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.timberindustrynews.com\/ro\/coronavirus-crisis-china-aims-to-revive-trade-by-cutting-port-fees\/\" \/>\n<meta property=\"og:locale\" content=\"ro_RO\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coronavirus crisis: China aims to revive trade by cutting port fees - Timber Industry News\" \/>\n<meta property=\"og:description\" content=\"China's government is suspending or reducing port fees and other transport costs, a move that is expected to help revive exports and imports as the country recovers from the coronavirus outbreak. 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