China raises export tax rebates on over 600 lines

BEIJING: China is increasing tax rebates to exporters of more than 600 product lines, including some electronics, machinery, steel, toys and furniture, the Ministry of Finance said on Monday.

In a statement on its website, www.mof.gov.cm, the ministry said exporters of corn starch and alcohol would also benefit from the increased refunds, which took effect on June 1.

This is the seventh time that the government has raised export tax rebates since last summer to help manufacturers hard hit by the slump in global demand.