Monday, September 10, 2012
China's next stimulus measures could include expanded tax rebates on exports
In order to inject new life into its sagging economic growth, China could reportedly expand tax rebates this month to exporters as part of stimulus efforts to help counter weakened global demand for the manufacturing giant's goods.
The Chinese government has indicated it might offer a full rebate of the 17 percent value added tax on products like furniture, shoes and toys, according to a Bloomberg report. The current rebate reportedly ranges from 13 to 15 percent.
Premier Wen Jiabao has said the central government would engage in "fine tuning" to help curb the slowdown in the world's second-largest economy.
China slowed considerably to 1 percent export growth in July after an 11-percent gain in June.
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