|
The rise in export tax rebates will "help reduce costs for the
real economy, help it cope with the complex international
situation and maintain stable foreign trade growth", the cabinet
said after a regular meeting.
The move conforms to rules of the World Trade Organization (WTO),
it said.
The tax rebate will be raised to 16 percent for those exports
currently getting a rebate of 15 percent or 13 percent, the
cabinet said.
The rebate will be raised to 10 percent for those exports that
currently get a 9 percent rebate, though the rebate will be
raised to 13 percent for some, the cabinet said.
The rebate will be raised to 6 percent for exports currently
getting a 5 percent rebate, though for some it will be raised to
10 percent.
In September, China raised export tax rebates for 397 items,
including steel and electronic products, in a bid to help
exporters as the tariff war with the United States worsened.
Chinese policymakers have been stepping up support for the
slowing economy as the full impact of U.S. trade tariffs has
still to be felt.
Local governments will quicken special bond issuance for
shanty-town redevelopment but they will be barred from engaging
in fund-raising in the name of such housing projects, the
cabinet said after a regular meeting.
China has injected hundreds of billions of dollars of policy
loans into redevelopment of shanty-towns. Analysts say the
project has boosted property demand as residents are encouraged
to use cash compensation to buy a new home when their existing
home is demolished.
(Reporting by China Monitoring Desk and Kevin Yao; Editing by
Simon Cameron-Moore)
[© 2018 Thomson Reuters. All rights
reserved.] Copyright 2018 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
 |
|
