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ReturnChina to raise export rebates on textiles, toys, other products
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admin
PublishDate：
2008-10-21 20:58:00
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China will raise export rebates on textiles, toys and apparel and some other products, the Ministry of Finance and the State Administration of Taxation said in a joint statement.
It said a total of 3,486 products, involving labour-intensive and value-added items, will benefit from the move.
Export rebates on these goods will rise to between 5 pct and 17 pct after the hike, which takes effect November 1.
The rebate on textiles, toys and apparel will be raised to 14 pct. According to the statement, export rebate of mulberry silk yarn and fabric (5004000000-5007909099 ) will be also lifted to 14 pct.
Export-oriented companies, especially small and medium-sized labour-intensive firms, had seen their earnings decrease sharply due to falling overseas demand, rising yuan as well as surging raw material and labour costs, the statement noted.
Export growth over the past nine months was lower compared to the same period last year, and it could drop further unless the government takes active measures, it said.
Source: State Administration of Taxation
It said a total of 3,486 products, involving labour-intensive and value-added items, will benefit from the move.
Export rebates on these goods will rise to between 5 pct and 17 pct after the hike, which takes effect November 1.
The rebate on textiles, toys and apparel will be raised to 14 pct. According to the statement, export rebate of mulberry silk yarn and fabric (5004000000-5007909099 ) will be also lifted to 14 pct.
Export-oriented companies, especially small and medium-sized labour-intensive firms, had seen their earnings decrease sharply due to falling overseas demand, rising yuan as well as surging raw material and labour costs, the statement noted.
Export growth over the past nine months was lower compared to the same period last year, and it could drop further unless the government takes active measures, it said.
Source: State Administration of Taxation
