On August 15th, Sinopec Int’l delivered 7200 tons of high-strength steel plates from Shanghai Port timely. This is the first time for Sinopec Int’l to export the steel plates and it is also the milestone in the history of Chinese steel plates exporting business.

During the whole process of executing the contract, in order to monitor the whole process and ensure to deliver the plates in time, Equipment & Material Export Division together with Steel Procurement Division assigns the specialists to the workshop of Wuyang Steel & Iron Company Ltd. to coordinate the delivery issues and the supervision to control the quality. In the end, we overcome the numerous difficulties and delivered the plates on time.

On June 22nd, Ministry of Finance and the Tax Bureau jointly issued the notice that since July 15, 406 tariff lines will be cancelled the export tax rebates, our 7200 tons of plates within this scope. Then under the command of the company’s leadership, Equipment & Material Export Division conjunction with Steel Procurement Division, International Logistic Division make the mutual discussion and spare no effort to find the solutions. Finally, we open up the procedure that through the bonded logistics Zone to get the tax refund successfully. Meantime, we speeded up the production schedule and shipped the 4571 tons of steel plates to the bonded logistics Zone ahead and ensured Sinopec Int’l to enjoy the national tax refund policy maximum. Through all the people’s associated effort, this batch of steel plates shipped as schedule ultimately.

Ten years ago, this kind of high –strength plates used for China Crude oil storage tank need to purchase from overseas. After a decade of effort, we realized the domestic localization completely. Today, we step on a new start point: exporting the Chinese high-strength steel plates abroad successfully, and achieved the leap from import—digestion and absorption--domestic localization--export. Now, we have more confidence to push the Chinese manufacturing industry overseas, and flourish Sinopec Int’l international business.