The Ministry of Finance and the State Administration of Taxation said in a statement on March 17 that the tax rebate rate for exports of 1,084 products, including porcelain sanitary appliances, will be raised to 13 percent from March 20, 2020, and the tax rebate rate for 380 products, including plant growth regulators, will be raised to 9 percent.
Li Xuhong, a professor at the National Accounting Institute in Beijing, said the increase in export rebate rates covers a wide range of products, including agricultural products and primary processed goods. By increasing the export rebate rate, it can reduce the operating cost of foreign trade enterprises, relieve the pressure of cash flow of enterprises, and promote the stability of foreign trade. (Source: China Trade News)