China's State Administration of Taxation (SAT) said Monday the actual export tax rebate in the first two months stood at 66.7 billion yuan (US$9.77 billion), up 20.8 percent year-on-year.
"The actual export tax rebate rose despite the fact that export volume declined. It shows the country's tax rebate policy is taking effect," the SAT said in a notice.
China increased the export tax rebate for labor-intensive, mechanical and electrical products in the second half of last year.
"Exports in those industries, therefore, declined slower than others," the notice said. "The increased tax rebate has in a sense eased capital pressure for some businesses."
(Xinhua News Agency March 24, 2009)
