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The Chinese government raised export tax rebates on more than 600 export products, to shore up exports amid global economic downturn.
The Ministry of Finance (MOF) announced on Monday that as of June 1, export tax rebates on products such as machines, shoes, hats and toys will be increased by amounts ranging from 5 to 17 percent.
The government raised tax rebates for the seventh time since last August.
Source: China Daily. Click here to read the full article.
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Over the next few months don’t be surprised to hear a lot about China as the planet’s first green superpower. The State Council of China’s cabinet will soon release the details of a staggeringly large “new energy” programme that could make China a global leader in renewable energy and low – carbon technology.
China, a country that already makes most of the world’s solar panels and wind turbines will invest, as reports in the domestic media and from foreign diplomats suggest, between 1.4 trillion (US$200 bn) and 4.5 trillion yuan (US$600bn) over the next ten years in nuclear power plant, solar and wind farms, hydroelectric dams, “green transport”, “clean coal” and super efficient electric grids.
For full article, click here.