Export tax rebates reach $22b

PUBLISHED : Saturday, 26 September, 1998, 12:00am
UPDATED : Saturday, 26 September, 1998, 12:00am

The mainland paid 24.4 billion yuan (about HK$22.69 billion) in export tax rebates in the first eight months of the year, up 8.5 per cent on the same period last year. According to the People's Daily yesterday, export-tax rebates were one of the best tools to boost Chinese exporters and keep their goods competitive amid Asia's financial crisis. The government has raised tax rebate rates on exports of some products this year to boost sales abroad.