The characteristics of economic means are to follow the principle of material interests and economic laws, indirectly affect the interests of enterprises and guide their behavior, and are not forced by administrative orders. China's economic control measures mainly include economic levers such as exchange rate, tax and credit. The state uses these economic levers to influence the interests of all regulated objects through the market mechanism, thus achieving the purpose of regulating foreign trade activities and foreign trade and economic relations.
I. Exchange rate and exchange rate system
Exchange rate changes directly affect the development of a country's foreign trade. Exchange rate control is an important economic lever for a country to achieve the balance of import and export volume and optimize the structure of import and export commodities.
1 994 65438+1October1,China carried out a major reform of the exchange rate system: the exchange rate was merged and a single and managed floating exchange rate system based on market supply and demand was implemented; Implement the system of bank settlement and sale of foreign exchange, and abolish the system of foreign exchange retention, surrender and quota management; Establish a unified inter-bank foreign exchange trading market and change the RMB exchange rate formation mechanism; Cancel the mandatory plan of foreign exchange receipts and payments, and the state mainly uses economic and legal means to realize macro-control of foreign exchange and international payments.
In order to further improve China's exchange rate system, China has taken some new reform measures since 1996: from 1 April 9961,some foreign exchange restrictions on non-trade and non-operating transactions under current account have been cancelled; 1 July, 19961day, the system of bank settlement and sale of foreign exchange for foreign-invested enterprises was fully implemented throughout the country; 1996165438+1On October 27th, our government announced that it would accept the obligations stipulated in Article 8 of the Agreement of the International Monetary Fund and realize the convertibility of RMB under the current account.
The reform of China's exchange rate system since 1994 is more thorough and comprehensive than the previous reforms in terms of depth, breadth and influence.
First of all, the implementation of a single and managed floating exchange rate system based on market supply and demand has greatly changed the exchange rate formation mechanism in China and significantly increased the role of exchange rate leverage.
Secondly, the implementation of bank settlement and sale of foreign exchange system provides a competitive environment for all kinds of foreign trade enterprises in relatively equal, which is conducive to the development of China's export trade.
Third, the abolition of foreign exchange restrictions on current account of international payments and the free convertibility of currencies have provided enterprises with relaxed conditions for using foreign exchange, which is conducive to the integration of China's economy with the world economy.
Fourthly, the establishment of a unified inter-bank foreign exchange market will further improve China's foreign exchange market and further enhance the country's ability to regulate import and export trade by economic means.
In a word, the main purpose of China's exchange rate system reform is to let market signals regulate the behavior of import and export enterprises, let market mechanism play a fundamental role in macro-control of foreign trade, and let exchange rate become a powerful economic lever to regulate import and export activities.
On July 2, 2005, China began to implement a managed floating exchange rate system based on market supply and demand and with reference to a basket of currencies.
Two. Foreign trade tax and tax system
Foreign trade tax
Foreign trade tax can be divided into import tax and export tax according to trade flow direction, including import tariff, import commodity tax, export tariff and export commodity tax. Among them, import tariffs and export tariffs are only levied on import and export goods, which reflects the differential treatment of trade goods and non-trade goods in taxation; Import commodity tax and export commodity tax, also known as domestic commodity tax, are taxes levied on domestic and foreign commodities at the same time, aiming at balancing the tax burden of domestic and foreign commodities.
In today's international trade, all countries in the world actively encourage export trade, and most countries do not levy export tariffs. China has also adopted a policy of encouraging export trade. Therefore, China's foreign trade tax is mainly implemented and completed by collecting import tariffs and domestic taxes, while export taxes are mainly manifested in export tariff reduction and exemption and export tax rebate. Foreign trade tax, like domestic tax, is also a form of redistribution, which is compulsory and free.
Due to the foreign-related nature of foreign trade tax, it plays an irreplaceable role in other domestic taxes.
First of all, foreign trade tax can protect a country's interests in foreign trade exchanges. Sovereign countries can obtain tariff preference and equal treatment through foreign trade tax, and can also use it as a weapon against trade discrimination.
Secondly, the state can adjust the structure, variety and quantity of import and export commodities by using foreign trade tax according to the needs of national economic development. Especially in the modern market economy, foreign trade tax is often an important tool to implement import and export policies, decrees and rules, and it is also the main policy means for the state to control and intervene in import and export activities.
Third, foreign trade tax can increase a country's fiscal revenue and accumulate necessary construction funds for the country.
(2) Tariff and tariff policy
1. tariff policy
Tariff refers to a kind of tax levied by the customs established by the government on import and export goods according to the tariff tax law and tariff rules formulated by the state when they pass through the customs territory of a country. Tariff means is regarded as the most transparent foreign trade control tool by the World Trade Organization, so it is widely used by countries all over the world.
After 1992, China began to implement the tariff policy of combining moderate opening with moderate protection. In order to promote the establishment of the socialist market economic system, restore the status of a contracting party to GATT as soon as possible and join the World Trade Organization, China has adjusted its tariff policy, gradually abandoned its passive protection policy, implemented a moderately open and moderately protected tariff policy centered on the tilt of industry and technology, gradually lowered the overall tariff level in accordance with the requirements of GATT for developing countries, adjusted its tariff structure in combination with domestic industrial policies, and established a new import and export trade regulation and management system under the framework of the World Trade Organization.
2. Tariffs and tax rates
Customs tariff is a catalogue of goods classification and tax rate table promulgated and implemented by the state through legislative procedures, and it is the basis for customs to collect import and export tariffs. China Customs import and export tariff is an integral part of import and export tariff laws and regulations. The current customs import and export tariff came into effect on June 1992 65438+ 10/0. It is based on the internationally widely adopted Harmonized Commodity Description and Coding System and is divided into 97 chapters in 2 1 category.
China's import tariffs are divided into four columns: most-favored-nation tax rate, agreed tax rate, preferential tax rate and ordinary tax rate. The MFN tariff rate is applicable to imported goods originating from WTO members with MFN treatment clauses with China; Or imported goods originating in countries or regions that have signed bilateral trade agreements with China to give each other MFN treatment.
The agreed tariff rate is applicable to the imported goods originating from the relevant parties to the regional trade agreement with preferential tariff terms to which China is a party. Preferential tariff rate is applicable to imported goods originating in countries or regions that have signed preferential tariff agreements with China. The general tax rate applies to imported goods originating in countries or regions other than the above-mentioned countries or regions.
In China, most tax items are subject to ad valorem tax, while only a few tax items are subject to specific tax, compound tax and sliding duties.
The tariff rate is the rate at which the tax is calculated when the goods are taxed. Tariff policy is embodied and implemented through tariff rate, and the economic leverage of tariff is also realized through different tariff rates and tariff structures. Since April 1986, China has adjusted the import tariff rate many times, and since June, it has been greatly reduced many times. 199 1. By 2002, China's average import tariff rate had dropped to 12%, reaching the average level of developing countries. According to Annex 8 of the Protocol of China's Accession to the World Trade Organization, the average tariff level of China in 2005 was reduced to 10%.
3. Tariff reduction and exemption
There are three types of tariff reduction or exemption in China: (1) statutory tax reduction or exemption refers to the tariff reduction or exemption stipulated in the Customs Law and the Import and Export Tariff Regulations; (2) The term "specific relief" refers to granting tariff relief to import and export goods in specific regions, specific enterprises or specific purposes in accordance with state regulations; (3) Temporary relief refers to temporary tariff relief beyond the scope of statutory relief and specific relief.
(3) the domestic tax system of imported goods
According to China's current domestic tax system for imported goods, the import commodity tax refers to the collection of value-added tax and consumption tax on imported goods. Its main function is to adjust the tax burden difference between domestic and foreign products and create a level playing field for domestic and foreign products.
1. Tax principle
From 65438 to 0994, China carried out tax reform. According to the provisions of the new tax system, China implements the principle of equal taxation for imported products and domestic products, that is, value-added tax and consumption tax are levied according to the same tax items and rates.
2. Scope of taxation and taxpayers
According to China's "VAT Regulations", in addition to selling goods or providing processing, repair and replacement services within China, imported goods also fall within the scope of VAT collection. All units and individuals that sell goods or provide processing, repair and replacement of imported goods within the territory of China are taxpayers of value-added tax. According to the provisions of the consumption tax regulations, there are *** 1 1 kinds of imported goods in China, including: cigarettes, wine and alcohol, cosmetics, skin care products, precious jewels and jade, firecrackers and fireworks, gasoline, diesel oil, automobile tires, motorcycles and automobiles. Consumption tax payers refer to units and individuals that produce, entrust and import taxable consumer goods in China.
3. Tax items and tax rates
The tax items and tax rates applicable to imported products are important criteria for determining whether, what and how much products should be taxed. According to the principle of equal tax payment for imported products and domestic products, generally speaking, unless otherwise stipulated by the state, the tax items and tax rates applicable to imported products shall be subject to those of domestic value-added tax and consumption tax.
According to the Regulations on Value-added Tax, value-added tax has three grades: basic tax rate, low tax rate and zero tax rate. Basic tax rate: taxpayers sell or import goods and provide processing, repair and replacement services, and the tax rate is 17%. Low tax rate: taxpayers sell or import 19 kinds of goods such as grain, and the tax rate is 13%. Zero tax rate: taxpayers declare export goods at zero tax rate.
According to the consumption tax regulations, there are two kinds of consumption tax rates. One is the proportional tax rate, that is, the implementation of ad valorem tax; The second is the fixed tax rate, that is, the implementation of quantitative quota taxation. The Consumption Tax Regulations set ten proportional tax rates for consumption tax, with the highest tax rate of 45% and the lowest tax rate of 3%.
(4) Export tax rebate system
Export tax rebate refers to the return of indirect taxes paid by export goods in the process of domestic production and circulation to export enterprises, so that export goods can enter the international market at duty-free prices.
1. Significance of implementing export tax rebate
First of all, export tax rebate is a measure to encourage export trade based on the principle of zero tax rate for export commodities. On the one hand, through the export tax rebate, the tax collected in the production and circulation links will be returned to the export enterprises, so that enterprises can participate in international competition and occupy the international market with price advantage; On the other hand, because the goods of one country are exported to another country, the importing country should not only levy import tax, but also levy value-added tax and consumption tax on the imported goods. If the export tax rebate is not implemented, it will constitute double taxation. The problem of double taxation can be well solved by realizing zero export tax rate through export tax rebate.
Secondly, export tax rebate is a non-discriminatory tax policy for export goods and an effective means to maintain fair competition between domestic and foreign products. In international trade, due to the different tax systems in different countries, the cost of goods including tax is very different, so it is impossible to compete fairly. To eliminate this adverse effect, it is necessary to make export commodities enter the international market at a price excluding tax. Export tax rebate is an effective means to make export commodities enter the international market at tax-free prices.
2. The principle of export tax rebate
China implements the principles of "refund as much as you levy", "no refund if you don't levy" and "full refund" for export commodities. This is not only the need of fiscal balance, but also the need of policy mechanism. Because, if more taxes are levied and less taxes are refunded or there is no complete tax rebate, the export tax rebate system will not give full play to the role of encouraging exports; If less taxes are collected and more taxes are refunded, the export tax rebate system will become a new export subsidy channel and lose its original significance.
3. The scope of export tax rebate
(1) scope of export tax refund products. The products exported by our country belong to the products that have been levied or applied for value-added tax and consumption tax, and all of them will be refunded or exempted, except those that are explicitly prohibited by the state. The "export products" mentioned here should generally meet the following three conditions: they must be taxable products, export products that have been declared for departure, and financial export products.
(2) The enterprise scope of export tax rebate. In principle, the tax refund for export products should be fully returned to the export enterprises mainly responsible for the export economy. It mainly includes four aspects: first, enterprises engaged in export business; Second, enterprises that act as export agents in import and export business activities; Three, specific export enterprises (ocean shipping companies, foreign repair companies, foreign contracted engineering companies, etc.). ); Fourth, foreign-invested enterprises.
4. Taxes and tax rates of export tax rebates
China's "Administrative Measures on Tax Refund (Exemption) of Export Goods" stipulates that the types of tax refund for China's export products are value-added tax and consumption tax.
According to the VAT Regulations, the tax rates of the VAT refundable amount of export products should be calculated as 17% and l3%. The calculation of the tax rate or unit tax for export goods shall be carried out in accordance with the Table of Consumption Tax Items and Taxes (Taxes) attached to the Consumption Tax Regulations. This is the legal tax rate of China's export tax rebate, but in the actual implementation process, according to the national financial balance and the needs of developing export trade, China has adjusted the export tax rebate rate many times.
Three. Import and export credit system
Import and export credit refers to an important measure that the government provides loans to importers and exporters through banks to encourage exports and ensure imports. In international trade, the transaction volume of machinery, complete sets of equipment, ships, airplanes and other commodities is huge, and it takes a long time from ordering to delivery, so it is difficult for importers to raise huge funds for the time being; For exporters, although prepaying huge amounts of money can facilitate transactions, it is not conducive to capital turnover. Therefore, they need bank loans to finance their import and export business. Especially in recent years, with the development of global trade liberalization, many countries have given up their past financial subsidies and adopted financial means to support and promote the export of their own products, especially capital goods.
(1) Import and export credit tasks
The basic tasks of China's import and export credit are: according to the requirements of the country to develop the socialist market economy, following the policy of reform and opening up, issuing loans according to relevant national policies and approved credit plans, and supporting the development of foreign trade; At the same time, it will play the role of credit supervision and service, supervise the rational use of credit funds by enterprises, and assist foreign trade enterprises to strengthen economic accounting and improve economic efficiency.
(2) Import and export credit policy
The import and export credit policy is the guidance and guarantee to effectively play the role of import and export credit in promoting import and export trade. The basic contents of China's import and export credit policy are: actively supporting reputable state-owned import and export enterprises to carry out effective and marketable import and export business; Support the development of large and medium-sized state-owned enterprises and enterprise groups; Support foreign trade enterprises to implement the agency system; It is strictly forbidden to lend money to enterprises that blindly compete, are inefficient and misappropriate bank funds; Support the technological progress of national key construction enterprises; Support the export of mechanical and electrical products and complete sets of equipment; Support foreign-invested enterprises with high profits and taxes, high foreign exchange earning and high sales; Support state-level economic and technological development zones with good benefits and reasonable industrial structure.
(3) Import and export credit institutions
Banks in The Export-Import Bank of China and China are the main channels for China to provide import and export credit. In addition, some state-owned commercial banks, regional commercial banks and other financial institutions in China can also issue a certain amount of foreign exchange loans and RMB loans to import and export enterprises with the approval of the State Administration of Foreign Exchange.
The Export-Import Bank of China, established in May, 1994 China, is a policy bank specializing in import and export credit business. Its main task is to implement the national production policy and industrial policy, and provide policy financial support for expanding the export of production materials such as mechanical and electrical products and complete sets of equipment in China. Independent capital preservation operation and enterprise management are carried out, which are not for profit and do not compete with commercial banks. Capital is mainly allocated by finance, and another source of funds is to issue financial bonds to financial institutions. Its business scope includes: providing export seller's credit and buyer's credit for the import and export of capital goods such as mechanical and electrical products and complete equipment; Handling discount interest, export credit guarantee, import and export insurance and factoring of export credit of complete sets of mechanical and electrical products of China Bank; Evaluate and review import and export credit projects. In recent years, according to the international practice, the export buyer's credit business, as well as the China government's lending business and mixed loans to foreign governments have also been selectively piloted. In the choice of credit projects, the bank pays attention to highlighting key points, fully embodies policy, and improves the efficiency of the use of policy funds by optimizing the loan structure; Especially in export credit, it supported the export of high-tech and high-value-added mechanical and electrical products and complete sets of equipment, which effectively promoted the optimization of export commodity structure and the upgrading of industrial structure; In addition, the focus of credit is to support large and medium-sized state-owned enterprises, especially industries with large industrial correlation effects, and the export of mechanical and electrical products in the central and western regions.
Bank of China is a state-owned commercial bank authorized by China government to handle foreign exchange business and import and export credit. It has the nature and status of a specialized foreign exchange bank designated by the state. As the main channel for China's external financing, it conducts various banking businesses at home and abroad to support China's foreign trade and social and economic development.