China's tax rebate for exporters increased by 8.6 percent in the first eight months, according to the State Administration of Taxation.

China rebated 263.35 billion yuan (38.73 billion U.S. dollars) to its exporters in the first 8 months, an increase of 8.6 percent. In August alone, the rebate was 32.9 billion yuan, up 8.5 percent year on year,

The government has raised export tax rebates seven times since last August to shore up exports after exports shrank sharply on weakening overseas demand.

The latest rebate rise was announced on June 20, covering more than 2,600 items.