On January 9, the Ministry of Finance and the State Taxation Administration jointly issued the Announcement on Adjusting the Export Tax Rebate Policy for Photovoltaic and Other Products. The product list explicitly includes PVC powder, unplasticized PVC, and plasticized PVC in the scope of adjustment. The core impact clause concerns PVC exports: starting from April 1, 2026, the value-added tax (VAT) export tax rebate for PVC powder will be canceled.
At present, the export tax rebate rate for this category stands at 13%. The far-reaching impact of this policy on the PVC market has attracted widespread attention from the industry and the capital market.
Li Min, an analyst at Zhuochuang Information, stated that this policy will directly increase export costs. Based on the current domestic PVC powder price of 4,500 yuan per ton, the export cost will rise by approximately 75 US dollars per ton after the tax rebate is canceled.
From the perspective of export fundamentals, China's PVC powder exports have become an important support to make up for insufficient domestic demand in recent years. Data shows that the total export volume reached 2.617 million tons in 2024, and it is expected to exceed 3.8 million tons in 2025. The continuous growth of exports is driven by both the increase in global demand and the oversupply pattern in the domestic market.
Post time: Jan-13-2026