Export tax rebates are to be raised on more than 3,700 types of goods by China, in a bid to help boost growth amid scares of factory closures and a slowing economy.
The move will come into effect as of 1 December, the Financial Times reports.
At a meeting chaired yesterday by Wen Jiabao, China's premier, he ordered the tax changes to help maintain 'stable and relatively fast' economic expansion by supporting small and medium sized enterprises involved in producing exports of 'labour intensive products' and mechanical and electronic goods.
Business | King’s Speech outlines closer trade ties with EU, less red tape