BEIJING, July 31(XFN-ASIA) -- China will this week restore the export tax rebate for textiles and clothing to 13 pct from the current 11 pct, the State Administration of Taxation said in a statement on its website.
It said the increase in the tax rebate has won State Council approval and will take effect on Friday.
These items included silk, wool yarn, chemical fibre and cotton products.
However, export rebates for certain products, including pesticides, medicine, silver, paint, zinc and battery would be scrapped, it said.
Beijing has long been expected to ease its trade controls to help the country's exporters, especially the textile industry whose profit margins are being squeezed by a rising yuan and higher production costs.
Mainland media reported early this month that the government will raise export rebates for textiles and clothing.
The government cut the export tax rebate twice, in 2005 and 2006, as part of an effort to reduce a rapidly increasing trade surplus.
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It said the increase in the tax rebate has won State Council approval and will take effect on Friday.
These items included silk, wool yarn, chemical fibre and cotton products.
However, export rebates for certain products, including pesticides, medicine, silver, paint, zinc and battery would be scrapped, it said.
Beijing has long been expected to ease its trade controls to help the country's exporters, especially the textile industry whose profit margins are being squeezed by a rising yuan and higher production costs.
Mainland media reported early this month that the government will raise export rebates for textiles and clothing.
The government cut the export tax rebate twice, in 2005 and 2006, as part of an effort to reduce a rapidly increasing trade surplus.
关键字:国内英语新闻
生词表:
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