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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.

Special coverage: Coping with Financial Crisis Related readings:  More textile export rebates soon  China to further increase export tax rebates for light industry  3,770 export items for tax rebate rise announced  China makes new moves to boost exports

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.