Data updated on November 17 on the National Bureau of Statistics of the People's Republic of China website showed that China's output in synthetic rubber was 705,000 tons, up 15.8 percent year on year.
China's total output for synthetic rubber was 6.054 m tonnes, up 3.8% year on year.
After the signing of RCEP, it will reduce the cost of China's natural rubber and other imported goods, and help improve the competitiveness of the tire-related industrial chain in the long run. At present, the import of natural rubber is subject to 20% AD valorem tax and 1,500 yuan per ton Ad Valorem tax. In recent years, the voice of "cancel the import tariff of natural rubber and give proper subsidy to the domestic rubber farmers" is higher and higher, the insiders think that the tariff of natural rubber restricts the development of China's rubber tire industry to a certain extent.
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