Fujian Increases Tire Exports

According to Chinese customs data, in the first 11 months of 2024, Fujian Province, located in the southeast of the country, exported rubber tires worth 4.83 billion yuan (660 million dollars), which is 2.6% more than in the same period last year, Xinhua reports.

The main export markets are Russia, the EU, and ASEAN countries, and in January-November 2024, these three regions accounted for 46.8% of the total value of Fujian's tire exports.

The main suppliers are enterprises with foreign investment, which exported tires worth 2.73 billion yuan (370 million dollars) during the reporting period, accounting for 56.6% of the total volume, and a 4.4% increase in export value was recorded. Local state-controlled companies supplied tires worth only 180 million yuan (25 million dollars), but exports increased by 249.5%.

To support the development of local tire exports, the customs offers manufacturers opportunities to reduce or exempt taxes when supplying equipment from abroad, and in 2024, the amount of tax incentives was around 3 million yuan (410,000 dollars).

"Thanks to the support of the customs, we were able to significantly reduce our costs for purchasing equipment and raw materials," noted Jianxin Tyre (Fujian) Co. Ltd. "Now our annual capacity is 2.7 million tires, and we can produce over 220 product lines."

Jianxin Tyre was founded in 2010 and is based in Yong'an City, and its product range includes TBR and tires for trucks and buses.

Photo: appsanming.com.