[June 09, 2009] China Lifts Export Rebate Rate on Air Conditioners Tweet BEIJING, Jun 09, 2009 (SinoCast Daily Business Beat via COMTEX) -- China's Ministry of Finance (MOF) and State Administration of Taxation (SAT) have upgraded the export rebate rate of air conditioners, electric vacuum cleaners, and satellite TV receivers to 17% from June 1, 2009. Meanwhile, the export rebate rate of table fans, stand fans, and wall-mounted fans was lifted up to 15% and the rate on LCD glass substrates to 13%. It was the seventh time for the Chinese government to raise export rebate rates on certain products since August 2008. On April 1, 2009, the MOF and SAT issued a notice, upgrading the export rebate rate of CRT TVs to 17%, indicating that no tariffs would be imposed on the product. The lift of export rebate rates on air conditioners and TVs will bolster up the recovery of China's household appliance industry, believed analysts. However, it still depends on whether the favorable policy will take effect on the nation's withering exports. From January to April, China's foreign trade dropped 24.3% from a year earlier. As the exports remain depressive, government regulators may promulgate more effective stimulus measures in the near future. Source: www.163.com (June 09, 2009) [ Back To TMCnet.com's Homepage ]