China will abolish export tax rebates on coal, natural gas and some primary wood products from Friday and increase the export rebate rates on some high-tech products and processed farm produce.

According to a circular jointly released Thursday by the Ministry of Finance, the State Development and Reform Commission, the Ministry of Commerce, the General Administration of Customs and the State Administration of Taxation, China will abolish export rebate on silicon, paraffin, pitch, fine goat wool, charcoal, 25 kinds of pesticides and some minerals.

As one of the government's macro-control measures, the adjustment of the export rebate aims to improve China's industrial structure and to promote the balanced development of China's imports and exports, according to the Ministry of Finance.

Export rebate rates on steel will be reduced from 11 percent to 8 percent, ceramics and some finished leather, from 13 percent to 8 percent, cement and glass, from 13 percent to 11 percent, non-ferrous metals, from 13 percent to 5, 8 or 11 percent, textile, furniture, plastics and lighters from 13 percent to 11 percent and trolleys and parts from 17 percent to 13 percent.

China also raised the export rebate rate of major technical equipment, some IT products, biological and medical products and high-tech products as well as processed farm produce.

Source: Xinhua