Retail in Asia

In Markets

China to end export rebates on 406 items

China has scrapped export rebates on hundreds of products for the first time since the global financial crisis in a sign the worst may be over for exporters.

The Chinese Ministry of Finance and State Administration of Taxation said rebates would end from 15 July on 406 items ranging from steel to corn starch. Export rebates were introduced in September 2008 to help an export industry being battered by the global economic recession.

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(Source: scmp.com)