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China lifts tax rebates to boost export

In order to eliminate the bad effect of the decrease in export,china lifts tax rebates to boost export,this is the third time for China to lift the export rebate at the second half of this year.The purpose of doing so is to stimulate the export in order to keep steady growing of the national economy.

The government would also eliminate export duties on certain types of steel,chemical and grain products.

China's Ministry of Finance announced on Monday a list of 3,770 items involved in the third export tax rebate increase this year.
 
The items include labor-intensive, mechanical and electrical products. New export tax rebate rates on these items were also announced. The changes take effect on December 1.


Rises in tax rebate rates varied among different items. For example, the rate on tires was raised from 5 to 9 percent while glassware was up from 5 to 11 percent. Rates on labor-intensive products such as luggage, shoes and umbrellas were elevated from 11 to 13 percent
 

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