Yuzui Railway Freight Station eligible for tax rebate policies

Vehicles queue for export at the Yuzui Railway Freight Station. [Photo by Wang Jiaxi] 

China will expand its tax rebate policy for shipment ports starting Dec 1. Three ports in Chongqing, including the Yuzui Railway Freight Station at the Guoyuan Port International Logistics Hub, will be eligible. 

Under the expanded policy, companies can apply for tax refunds immediately using export declaration information generated by Customs once goods depart. This change significantly reduces the liquidity occupation cost for businesses and cuts the time to receive tax rebates by one month.

Before this expansion, the water port at the Guoyuan Port International Logistics Hub was the only port in Chongqing that had implemented the policy. 

The hub is the largest logistics center for containers and cargo on the upper Yangtze River. It boasts a seamless multimodal transport system that integrates railways, roads, and waterways, linking the Yangtze River Economic Belt with the Belt and Road Initiative. 

It is also a significant carrier for the China-Singapore (Chongqing) Interconnection Multimodal Transport Demonstration Base. 

In early 2022, Guoyuan Port managed its first shipment port tax rebate. As of October, Chongqing Customs had processed 14,080 applications under this policy, benefiting 4,359 companies and covering goods valued at 90.68 billion yuan ($12.45 billion). 

The expanded policy will also benefit Tuanjiecun Railway Station and Xiaonanya Railway Station, the other two Chongqing ports.

A representative from Chongqing Customs stated that with this policy expansion, goods exported from Chongqing and transported via international logistics channels such as the China-Europe Railway Express, the New International Land-Sea Trade Corridor, the Yangtze River, and the Chongqing-Manzhouli-Russia freight railway would all be eligible. For companies, this means increased efficiency in capital turnover, enhanced risk resistance capabilities, and boosted confidence in exploring overseas markets.

According to industry association estimates, the tax rebate policy for shipment ports is expected to save companies 20 million yuan by 2025, with savings projected to double by 2030.