China Travel & Tourism News
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China May Raise Export Drawback Rate
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| 22-Apr-2005 - China Radio International |
The Chinese Ministry of Commerce plans to raise the export drawback rate to 100 percent this year to encourage the export of computers, software and other high-techproducts, according to a senior commercial official.
The move came following the country's resumption of raising export drawback rate to 17 percent late last year, checking the downward export trend, Vice Minister of Commerce Wei Jianguo was quoted by Beijing-based China Economic Times as saying.
Wei revealed China's export of new and high-tech products dropped dramatically last year, saying that the export of color TVs declined 56 percent.
Thanks to the resumption of the export tax rebate policy, China's import and export volume of new and high-tech products stood at84.1 billion US dollars in the first quarter this year, up 26.2 percent from the same period of the previous year, according to the latest statistics.
In the January-March period, China exported 43.7 billion US dollars worth of new and high-tech products, an increase of 32.3 percent over the same period of last year.
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| 22-Apr-2005 - China Radio International |
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