Buffer the export fall

By raising tax rebates for a quarter of its export portfolio from the beginning of next month, the Chinese government ostensibly intends to provide some breathing space for domestic exporters.

The move came as the government announced a slew of stimulating measures to maintain economic growth, which declined to 9 percent year-on-year in the third quarter, the slowest pace over the past five years.

Such a move is necessary to prevent a drastic slump in the export sector. But it should not be interpreted as a signal that China will continue to rely heavily on export for economic growth. Nor should Chinese exporters expect more government aid to ride them out the looming global slowdown.