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Govt to reduce tax rebate on export

18
May '07
China is under pressure from trade partners, especially the United States, to change policies as April trade surplus hit $16.9 billion.

Thus, Government bodies, the National Development and Reform Commission, the Ministry of Commerce and the State Administration of Taxation have decided to reduce tax rebate on some basic export materials and textiles.

In order to decelerate country's exports and trade surplus, Government is also planning to increase export taxes by 5 to 10 percent.

This policy would come into effect from June 1.


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