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Govt reveals further measures to help exports
By Diao Ying (chinadaily.com.cn)
Updated: 2008-12-24 17:18

The State Council, or China's cabinet, has decided to raise the export tax rebate on some high value-added mechanical and electrical products and to expand the level of funding for foreign trade.

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The move is designed to further maintain exports as demand from developed economies around the world weakens. Exports in November fell by 2.2 percent to $114.9 billion, the first monthly decline in seven years.

Commerce Minister Chen Deming said on Tuesday that the government would try to stabilize exports by revising tax policies and providing more financial support to domestic firms, especially small- and medium-sized enterprises.

The government has already increased export tax rebates three times this year to help support some of the industries most severely hit, which includes textiles, garments and toys.


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