November 24 -- The Ministry of Finance yesterday exempted another 10 industries from having to pay the value-added tax (VAT) in a move to promote energy-saving and better protect the environment, reports Shanghai Securities News.

Su Ming, deputy director of the Ministry of Finance's Research Institute for Fiscal Science, said China will in future roll out additional preferential fiscal policies for strategic new industries.

China had first implemented policies encouraging the comprehensive utilization of resources in 2008, and had offered related companies preferential VAT policies.

The VAT exemptions were expanded to include construction waste, gangue-based building materials, and sand and gravel aggregates.

Gangue refers to materials that surrounds, or are closely mixed with, a wanted mineral in an ore deposit.

In addition, the refuse treatment and sludge treatment sectors were included under the VAT exemption scheme.

The number of products which can benefit from VAT refunds was increased from five to 12, including power and heat generated by waste heat, energy and kitchen waste, and industrial oil produced by used mineral oil.  Companies making such products will be entitled to a full refund of the VAT.

Producers of 14 products, up from the previous seven, including those making graphite from waste graphite, will obtain a 50 percent VAT refund.

An 80 percent refund of the VAT will be extended to manufacturers which use agricultural residues to produce three types of products.

Shares of Tianjin Capital Environmental Protection Group (600874.SH) fell 1.33 percent to trade at 5.93 yuan per share at 10:04 today.