China´s State Council in late May announced further support policies, including expanded export credit insurance, tax breaks and more financial access to help exporters. The government will provide 84 billion US dollars worth of short-term export credit insurance to trading companies aimed at increasing exports, and preferential policies as well as tax breaks will mainly go to labor-intensive and high-tech industries to protect world market share. In addition, smaller companies would get more financing guarantees from financial institutions as China will allocated unspecified extra funding from the central budget, according to the State Council.

Source: China Textile Leader