China Raises Export Rebate Rates           

China raises export rebate rates on some commodities with labor-intensive, high technology and high value-added, effective November 1st, 2008. The Ministry of Finance and the State Administration of Taxation jointly released on October 22nd.
   China, a core supplier of labor-intensive products in the world, is running into tough situation due to weakening demand from the American and European markets. China's labor-intensive firms and export-oriented firms, most of which are located in the Yangtze River Delta and the Pearl River Delta areas, have operated toughly, or suffered a huge loss or closed this year.
   The awful situation will have a negative impact on China's economic growth. The government is committed to taking macro-control measures on balance investment, consumption and exports to prevent from the economy downturn.
   3 486 goods are involved in the list of lifting export rebate rates, accounting for 25.8% of the total export list.  
   The export rebate rate is increased to 9% for plastic products from 5%, 14% for textile, garments and toy from 13%.
    Market watchdogs express that the increased export rebate rates will help enhance relevant firms' competitiveness and their profit margin.