China to step up export tax rebates to support foreign trade

Efforts will be made to strengthen the linkage of export credit insurance and export tax rebate policies, and improve rebate policies for processing trade firms, according to the circular.

The Asian giant will step up efforts to enhance data sharing and smooth the connections among customs, tax and other departments to further streamline export tax rebate procedures, it said.

Efforts will also be made to support cross-border e-commerce firms by encouraging qualified enterprises to actively claim export tax rebates, official Chinese media reported citing the circular.

A State Council executive meeting earlier this month decided to increase export tax rebates to promote foreign trade development. Enterprises with better credit records will enjoy greater customs clearance and tax refund facilitation.

ALCHEMPro News Desk (DS)