Chinese Cabinet Boosts Export Tax Rebates on Textiles
China’s State Council (Cabinet) raises the export tax rebate on textiles and garment from 14 percent to 15 percent, in an attempt to bolster sagging exports and support its vast manufacturing industry.
This is the third increase for the textiles and garments export tax rebate since last August, as central government leaders look for ways to shore up the manufacturing industry. The previous increases took place in August 2008, when the rebate increased from 11 percent to 13 percent, and in November 2008, with an increase from 13 percent to 14 percent.
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