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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: China announces new export tax incentives AFP - Tuesday, December 30 BEIJING (AFP) - - China will this week raise export tax rebates on hundreds of products, the government said Monday, in its latest effort to help exporters struggling amid the global economic meltdown. The boost for 553 machinery and electronic products will take effect from January 1, the finance ministry said, adding to a wide range of tax incentives for thousands of other items that have been introduced since October. The ministry did not give specifics for all of the latest changes, but gave examples of some products. Rebates on robots for industrial use will be raised to 17 percent from 14 percent, while those on motorcycles and sewing machines will jump to 14 percent from 11 percent and 13 percent respectively, it said. The hikes will help "alleviate the difficulties companies (are facing) and boost their confidence to get through the financial crisis," a statement posted on the finance ministry's website said. The statement fleshed out an announcement by the State Council, or cabinet, last week flagging more tax help for exporters of machinery and electronics products. The rebates mean Chinese enterprises can get back a certain amount of the money they have paid in value-added tax for items that have gone into the production of export goods. China's exporters are having a hard time tackling the global economic downturn. Overseas sales dropped 2.2 percent in November from a year earlier, the first decline in more than seven years, and thousands of exporting factories have been forced to close. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy Trials open for 9 over China tainted milk scandalAP - 58 minutes ago China's SAIC seeking S.Korea support for SsangyongReuters - 2 hours 6 minutes ago China coal miner talks with power producers failAP - 2 hours 57 minutes ago Tourism trouble on Thailand's tropical island of PhuketAFP - Tuesday, December 30 Related Articles: Business Thailand's True Corp revises rights issue ratioReuters - 24 minutes ago Russia stock regulator loosens trade halt rulesReuters - 29 minutes ago Rolta India acquires US-based Piocon TechnologiesReuters - 29 minutes ago Rio wants to meet Guinea govt on iron ore projectReuters - 33 minutes ago Jai Balaji to start steel plant work by Jan-end -CMDReuters - 36 minutes ago Enlarge Photo China announces new export tax incentives Related Photos Slideshow Full Photo Coverage: Business & Economy Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Actress Jennifer Aniston appears naked in GQ magazine Woolworths to close quarter of stores Chances of gas cut '50-50', Russia warns Ukraine At least 210 dead as Israel hammers Hamas-run Gaza Obama economic plan to cost between 675 and 775 bln: aides View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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