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In 2022, total export tax rebates and exemptions in Jiaxing exceeded 36.2 billion yuan ($5.34 billion), an increase of 10 percent year-on-year and helping export enterprises expand into overseas markets, according to the Jiaxing Customs.

Export tax rebates provided a guarantee of capital turnover and enhanced confidence in expanding overseas, said Ma Xiao, financial officer of Zhejiang Huayou Cobalt Co Ltd.

The company's market share of lithium precursors and high-nickel cathode materials for lithium ranked third in the world in 2022. Its Indonesian project was put into production on schedule, offering local employment and leading to the development of related industries.

Zhejiang Jiuyi Electronic Technology Co Ltd is a high-tech enterprise focusing on intelligent gating systems. In recent years, it has seized the high-end market in Europe, the Americas and Southeast Asia with its high-performance new products.

The timely arrival of export tax refunds reduced financial pressure on the company, said Lu Ziqiang, the company’s general manager.

The company enjoyed tax rebates of more than 10 million yuan this year, and it will make good use of the fund to further upgrade products and expand into more foreign markets, Lu added.

Officers of Jiaxing Customs explain tax rebates and exemptions in Jiaxing, Zhejiang province. [Photo/cnjxol.com]