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China's government will raise the export rebate rate of 3,770 commodities and widen the scope of the commodities enjoying the rebate.
 
The Ministry of Commerce of the PRC announced on Monday, November 17th that China will increase its export rebate rate for some commodities and expand the rebate to cover others which had not previously been eligible, including some electronic products and many other labor-intensive products. Under the revised plan, 3770 different commodities will be eligible for the rebate.
 
This adjustment, effective December 1, is the third in a series. Experts believe the adjustment of the export rebate rate might help to relieve foreign trade enterprises from capital chain tension and release some stress on labor-intensive export enterprises.
 
Chinese premier Wen Jiabao held the State Council's standing conference on November 12. The council decided to focus its efforts on helping small and medium-sized labor-intensive enterprises. On the basis of the twice of the increase in export rebate ratio, the State Council of the PRC further decided to heighten the export rebate ratio of a part of labor-intensive products, electronic products and the like from December 1, 2008. In order to carry out the decisions of the State Council, the State Administration of Taxation (SAT) issued the Note Made by SAT on Increasing the Export Rebate Ratio of Labor-intensive Products, etc (hereafter Note).
 
Themain points of the Note are the following:
 
Increase the export rebate ratio of the tyre and some other rubble products or some forest products made from artificial fast-growing wood from 5% to 9%;
 
Increase the export rebate ratio of glass utensils and some dies to 11% from the previous 9%.
 
Increase the export rebate ratio of the frozen prawns and crabs and some other marine products to 13% from the previous 11%.
 
In addition, the export rebate ratio for boxes and bags, shoes, hats, umbrellas, furniture, beddings, lights and clocks and watches will increase from 11% to 13%. The government also decided to increase the rebate ratio for some chemical products (like toothpaste), stone material, and non-ferrous metal material for processing (including aluminum strips) from 5% and 9% to 11% and 13% respectively. The rebate ratio for agricultural pumps will be increased from 9% to 11%, the ratio for motorcycles from 11% to 13%, and the rate for household appliance from 13% to 14%.
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