Raise in export tax rebates to boost foreign trade

Adjustment complies with World Trade Organization rules and aims to ease burden on companies, real economy

China's move to raise tax rebates on some exports is expected to ease the burden on the real economy and stabilize foreign trade growth to cope with complicated global scenarios, particularly trade frictions, according to analysts.

The State Council, China's Cabinet, has decided to adjust the nation's rebate policy by raising some rates and trimming the number of export tax brackets from seven to five, according to a statement released after an executive meeting presided over by Premier Li Keqiang on Oct 8.