While attending the 17th China International Symposium on Metal Recycling and Utilization and the 10th (Extended) Meeting of the Seventh Council of the China Scrap Metal Recycling Association in Hefei, Anhui Province, Luo Tejun, vice president of the China Iron and Steel Industry Association (CISA), said that Chinese scrap metal recycling enterprises have significantly improved their overall scale and equipment standards. The recycling system for collecting, processing and recycling scrap has taken its original form, providing crucial support for steel production and green development.
Meanwhile, Mr. Luo urged related enterprises to actively respond to national policies and speed up compliant business operations, which will help accelerate the development of the industry and benefit scrap metal recycling enterprises that have received access qualifications.
Over the past month, CISA and the China Scrap Metal Recycling Association (CAMSU) have further reviewed invoicing issues in the scrap metal sector through on-site site visits and symposiums. They specified policy recommendations, including promoting invoicing by scrap businesses, improving the “reverse invoicing” mechanism and increasing the VAT recovery rate. The recommendations are aimed at improving the handling efficiency of scrap recycling systems.
Mr. Luo also suggested recycling
