China again unveiled a slew of changes in the nation´s export tax rebate policy in an attempt to tackle slumping exports. Rebates have been increased for textiles and garments, light industrial products, information-technology products, steel, non-ferrous metals and petrochemicals starting from April 1. This adjustment involving 3802 items is expected to contribute an additional 31.2 billion yuan (4.57 billion US dollars) per year in export tax rebate for those industries. Rebate for textile and garment exports has been increased to 16 percent from 15 percent, which is going to save textile exporters 9.8 billion yuan (1.43 billion US dollars) in one year.

Source: China Textile Leader