China ups export rebate rates for over 1,400 products

A carriage inspector checks the serial number of containers at the Urumqi China-Europe Railway Express Hub in Urumqi, capital of northwest China's Xinjiang Uygur Autonomous Region, Feb. 20, 2020. (Xinhua/Ding Lei)

China will raise export rebate rates for 1,464 types of products starting March 20, authorities said Tuesday.

The rebate rate for 1,084 products including ceramic sanitary ware will be increased to 13 percent, and that for 380 goods including plant growth regulators will be increased to 9 percent, according to the Ministry of Finance and the State Taxation Administration.

Higher export rebate rates will facilitate foreign trade by lowering operating costs and easing cash shortages for manufacturers, said Li Xuhong, a professor of the Beijing National Accounting Institute.