China Raise Tax Rebate to Encourage Exports

China's efforts to boost exports by raising its tax rebate quota has taken effect since the end of the Asian financial crisis, "China Daily" reported on December 8.

The English newspaper quoted a senior official with the State Administration of Taxation as saying that China has raised the quota by 6.6 billion yuan over the first proposed 57 billion yuan.

The government relied on tax rebates to jump-start commodities that slowed down during the regional financial meltdown.

In June, the tax administration raised the quota by 3 percentage points.

Signs have shown that exports are back on normal track. The value of exports rose 4.3 percent to reach 155 billion US dollars in the first ten months this year, a hefty increase from the 4.6-percent decline in the first six months, the official said.

By the end of October, nearly 42 billion yuan in taxes had been refunded to exporters, he added. (Xinhua)


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