Govt gives exporters shot in arm

China will raise tax rebates for a quarter of its export portfolio and jumpstart an array of infrastructure projects, trying to buffer the impact of weaker overseas demand.

The move came as the government announced an array of stimulus measures after the nation's GDP growth declined to 9 percent year-on-year in the third quarter, the slowest pace over the past five years.

"It's necessary to adjust the fiscal policy and prevent a drastic slump in the export sector," the Ministry of Finance said in a statement posted on its website last night. "If we don't take measures, exports will continue to shrink and the plight faced by exporters will only worsen."